In a recent speech, Donald Trump indicated plans to impose tariffs on foreign computer chips, semiconductors, and pharmaceuticals, promoting domestic production without further subsidies, unlike the CHIPS Act's multi-billion dollar allocations. He highlighted possible benefits from AI advancements and claimed increased manufacturing plants in the US due to reduced tax burden. However, concerns linger regarding the effectiveness of tariffs, as previous administration policies led to heightened trade disparities with China, potentially increasing consumer prices significantly. Trump's statements on AI also counter the ongoing investments by tech companies to expand their capabilities in this sector.
Without going into detail about what might happen to the $52 billion in subsidies from the CHIPS Act under his administration, Donald Trump said tariffs on foreign computer chips, semiconductors, and pharmaceuticals are coming "in the near future."
He also namechecked DeepSeek's AI releases, saying, "...coming up with a faster method of AI and less expensive, that's good. I view that as a positive if it is fact and it is true, and nobody knows, but I view that as a positive."
This is despite the outcome of the trade war with China during his first administration that expanded China's trade surplus with the US between 2018, when the tariffs began, and 2021.
He also said that "we will have more plants built in the next short period of time than ever before because the incentive will be there."
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