"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,” Trump told reporters on Friday (August 15) aboard Air Force One en route to Alaska for a summit with Russian President Vladimir Putin.

President Donald Trump announced his intention to impose tariffs on steel and semiconductor imports. Initial lower rates aim to boost domestic production, with increases planned later. The move follows previous tariff hikes and encourages companies like Apple to invest in the U.