President Donald Trump is eyeing a “25% or higher” tariff across all semiconductor chips the United States imports, with rates likely to “go very substantially higher over a course of a year,” he told reporters on Tuesday.

President Donald Trump's threat of tariffs on semiconductors seems serious and may hurt Taiwan, but an emerging deal between TSMC and Intel could open a path for relief.

Trump announced a 25% tariff on semiconductor chips to boost U.S. production, but provided no timeline for implementation.

President Donald Trump said Tuesday that he will likely impose tariffs of 25% or more on imports of cars, semiconductors and pharmaceutical products.

Some said Trump's action to put tariffs on semiconductor imports may in fact violate the Information Technology Agreement (ITA-1), an international treaty to which the US is a party to, mandating trade of semiconductors and IT goods at zero duties between signatories.

One Canadian steel company is seeing business slow down so they are cutting hours. Conquest steel says products are getting stuck at the border.

President Donald Trump suggested imposing tariffs on auto imports, threatening to drive up the cost of cars further amid plans for tariffs on steel, aluminum, Canada, and Mexico. But economists and the insurance industry say that this will raise auto insurance costs.