Economy
President Trump intends to set additional steel tariffs
Written by Kristen DiLandro
August 15, 2025
US President Donald Trump stated that he would be setting more steel tariffs and putting ~100% tariffs on semiconductors and chips. The president made remarks to reporters as he boarded Air Force One on Friday,
President Trump stated that his tariffs are intended to drive domestic reshoring and encourage foreign producers to make products in the US. Trump told reporters that his current policies are driving growth here in the US.
“We have hundreds of factories all over the country and that includes auto factories, AI factories, and every other kind coming here,” the president said.
He added that more tariffs were on the way.
“I’ll be setting tariffs next week and the week after on steel and on, I would say, chips. Chips and Semiconductors – we’ll be setting sometime next week, week after,” said Trump.
When asked about rates, the president said he was not sharing rates yet.
“I haven’t set some of the tariffs yet… . The rate will be low in the beginning, that gives them a chance to come in and build, a very high rate after a certain period of time.”
Kristen DiLandro
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