Speaking at the Congressional Republican Party event in Miami, Trump said, ‘It's time for the United States to return to the system that has made us richer and stronger than ever.’ Trump, who similarised his approach to the strict tariffs imposed by former President William McKinley in the 1890s, announced that his administration would impose additional taxes on chip, semiconductor and pharmaceutical imports ‘in the very near future’.
Criticism of Taiwan
Trump argued that despite efforts to encourage chip production in the US, most of the production in the sector has shifted to Taiwan. ‘They left us and about 98 % of the chip industry went to Taiwan. We want them to come back, but we don't want to give billions of dollars like Biden did,’ Trump said.
Trump criticised the USD 53 billion in subsidies provided to US manufacturing companies under the CHIPS and Science Act signed by ex-President Joe Biden in 2022.
Comments
No comment yet.