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Investing.com -- President Trump announced Thursday that a "fairly substantial" tariff on semiconductors will be implemented in the near future.
The statement came during a dinner with technology industry leaders at the White House, where Trump responded to questions from reporters about potential trade actions.
Trump indicated he had discussed the tariff plans with some of the tech executives present at the event. He emphasized that the United States will impose tariffs on companies that do not establish operations within the country.
When addressing how the measures might affect specific companies, Trump suggested that Apple CEO Tim Cook would be in "good shape" if such a tariff is implemented.
The president did not provide specific details about the tariff rate, timeline for implementation, or which countries or companies would be targeted.
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