TURNBERRY, Scotland/EDINBURGH: The Trump administration will announce the results of a national security probe into imports of semiconductors in two weeks, Commerce Secretary Howard Lutnick said on Sunday (Jul 27), as President Donald Trump suggested higher tariffs were on the horizon.
Lutnick told reporters after a meeting between Trump and European Commission President Ursula von der Leyen that the investigation was one of the “key reasons” the European Union sought to negotiate a broader trade agreement that would “resolve all things at one time.”
Trump said many companies would be investing in semiconductor manufacturing in the United States, including some from Taiwan and other places, to avoid getting hit by new tariffs.
He said von der Leyen had avoided the pending chips tariffs “in a much better way.”
Trump and von der Leyen announced a new framework trade agreement that includes across-the-board 15 per cent tariffs on EU imports entering the United States.
Trump said the agreement included autos, which face a higher 25 per cent tariff under a separate sectoral tariff action.
