After Apple committed to an additional $100 billion in US manufacturing spend and presented Trump with a trinket for his desk, the president declared that the company would be exempt from his planned 100% tariff on chips imported into the country.
Apple chipmaker TSMC says it too will be exempt from these tariffs thanks to its plants in Arizona …
Apple’s exemption from new chip tariffs
Trump yesterday declared that he would be imposing an import tariff on chips of “approximately 100%.”
We’re going to be putting a very large tariff on chips and semiconductors […] We’ll be putting a tariff on of approximately 100% on chips and semiconductors.
However, after Apple provided him with a headline and a photo opp, he declared that the Cupertino company would be exempted.
The good news for companies like Apple is if you’re building in the United States, or have committed to build, without question, committed to build in the United States, there will be no charge.
TSMC says it too will be exempt
Given that pretty much every overseas chipmaker has some kind of presence in the US, it was unclear exactly which companies might be subjected to the upcoming tariff. Per Bloomberg, TSMC has gone on record saying that it will be exempt due to its Arizona chip plants.
“TSMC is exempted from the chip tariffs because it has set up plants in the US,” Liu Chin-ching, minister in charge of the National Development Council, said in Taipei on Thursday.
Both TSMC’s share price and the Taiwan dollar rose on the news.
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Photo by Risto Kokkonen on Unsplash
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