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Trump plans 100% tariff on computer chips, unless companies build in US
Legal Opinions |
2025/08/06 06:24
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President Donald Trump said Wednesday that he will impose a 100% tariff on computer chips, raising the specter of higher prices for electronics, autos, household appliances and other essential products dependent on the processors powering the digital age.
“We’ll be putting a tariff of approximately 100% on chips and semiconductors,” Trump said in the Oval Office while meeting with Apple CEO Tim Cook. “But if you’re building in the United States of America, there’s no charge.”
The announcement came more than three months after Trump temporarily exempted most electronics from his administration’s most onerous tariffs.
The Republican president said companies that make computer chips in the U.S. would be spared the import tax. During the COVID-19 pandemic, a shortage of computer chips increased the price of autos and contributed to higher inflation.
Investors seemed to interpret the potential tariff exemptions as a positive for Apple and other major tech companies that have been making huge financial commitments to manufacture more chips and other components in the U.S..
Big Tech already has made collective commitments to invest about $1.5 trillion in the U.S. since Trump moved back into the White House in January. That figure includes a $600 billion promise from Apple after the iPhone maker boosted its commitment by tacking another $100 billion on to a previous commitment made in February.
Now the question is whether the deal brokered between Cook and Trump will be enough to insulate the millions of iPhones made in China and India from the tariffs that the administration has already imposed and reduce the pressure on the company to raise prices on the new models expected to be unveiled next month.
Wall Street certainly seems to think so. After Apple’s stock price gained 5% in Wednesday regular trading sessions, the shares rose by another 3% in extended trading after Trump announced some tech companies won’t be hit with the latest tariffs while Cook stood alongside him.
The shares of AI chipmaker Nvidia, which also has recently made big commitments to the U.S., rose slightly in extended trading to add to the $1 trillion gain in market value the Silicon Valley company has made since the start of Trump’s second administration.
The stock price of computer chip pioneer Intel, which has fallen on hard times, also climbed in extended trading.
Inquiries sent to chip makers Nvidia and Intel were not immediately answered. The chip industry’s main trade group, the Semiconductor Industry Association, declined to comment on Trump’s latest tariffs.
Demand for computer chips has been climbing worldwide, with sales increasing 19.6% in the year-ended in June, according to the World Semiconductor Trade Statistics organization.
Trump’s tariff threats mark a significant break from existing plans to revive computer chip production in the U.S. that were drawn up during the administration of President Joe Biden.
Since taking over from Biden, Trump has been deploying tariffs to incentivize more domestic production. Essentially, the president is betting that the threat of dramatically higher chip costs would force most companies to open factories domestically, despite the risk that tariffs could squeeze corporate profits and push up prices for mobile phones, TVs and refrigerators.
By contrast, the bipartisan CHIPS and Science Act that Biden signed into law in 2022 provided more than $50 billion to support new computer chip plants, fund research and train workers for the industry. The mix of funding support, tax credits and other financial incentives were meant to draw in private investment, a strategy that Trump has vocally opposed. |
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Trump faces prospect of additional sanctions for violating gag order
Legal Opinions |
2024/05/03 14:03
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Jurors in the hush money trial of Donald Trump heard a recording Thursday of him discussing with his then-lawyer and personal fixer a plan to purchase the silence of a Playboy model who has said she had an affair with the former president.
A visibly irritated Trump leaned forward at the defense table, and jurors appeared riveted as prosecutors played the September 2016 recording that attorney Michael Cohen secretly made of himself briefing his celebrity client on a plan to buy Karen McDougal’s story of an extramarital relationship.
Though the recording surfaced years ago, it is perhaps the most colorful piece of evidence presented to jurors so far to connect Trump to the hush money payments at the center of his criminal trial in Manhattan. It followed hours of testimony from a lawyer who negotiated the deal for McDougal’s silence and admitted to being stunned that his hidden-hand efforts might have contributed to Trump’s White House victory.
“What have we done?” attorney Keith Davidson texted the then-editor of the National Enquirer, which had buried stories of sexual encounters to prevent them surfacing in the final days of the bitterly contested presidential race. “Oh my god,” came the response from Dylan Howard.
“There was an understanding that our efforts may have in some way...our activities may have in some way assisted the presidential campaign of Donald Trump,” Davidson told jurors, though he acknowledged under cross-examination that he dealt directly with Cohen and never Trump.
The testimony from Davidson was designed to directly connect the hush money payments to Trump’s presidential ambitions and to bolster prosecutors’ argument that the case is about interference in the 2016 election rather than simply sex and money. Manhattan District Attorney Alvin Bragg has sought to establish that link not just to secure a conviction but also to persuade the public of the significance of the case, which may be the only one of four Trump prosecutions to reach trial this year.
“This is sort of gallows humor. It was on election night as the results were coming in,” Davidson explained. “There was sort of surprise amongst the broadcasters and others that Mr. Trump was leading in the polls, and there was a growing sense that folks were about ready to call the election.”
Davidson is seen as a vital building block for the prosecution’s case that Trump and his allies schemed to bury unflattering stories in the run-up to the 2016 presidential election. He represented both McDougal and porn actor Stormy Daniels in negotiations that resulted in the purchase of rights to their claims of sexual encounters with Trump and those stories getting squelched, a tabloid industry practice known as “catch-and-kill.”
Davidson is one of multiple key players testifying in advance of Cohen, the star prosecution witness who paid Daniels $130,000 for her silence and also recorded himself, weeks before the election, telling Trump about a plan to purchase the rights to McDougal’s story from the National Enquirer so it would never come out. The tabloid had previously bought McDougal’s story to bury it on Trump’s behalf.
At one point in the recording, Cohen revealed that he had spoken to then-Trump Organization Chief Financial Officer Allen Weisselberg about “how to set the whole thing up with funding.” To which Trump can be heard responding: “What do we got to pay for this? One-fifty?”
Trump can be heard suggesting that the payment be made with cash, prompting Cohen to object by saying “no” multiple times. Trump can then be heard saying “check” before the recording cuts off.
Trump’s lawyers sought earlier in the day to blunt the potential harm of Davidson’s testimony by getting him to acknowledge that he never had any interactions with Trump — only Cohen. In fact, Davidson said, he had never been in the same room as Trump until his testimony.
He also said he was unfamiliar with the Trump Organization’s record-keeping practices and that any impressions he had of Trump himself came through others. |
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Russia indicts ICC prosecutor, judge who issued war crimes
Legal Opinions |
2023/05/22 12:32
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Russia on Sunday announced indictments in absentia for a judge and prosecutor of the International Criminal Court who issued a war crimes warrant for President Vladimir Putin.
A statement from the national Investigative Committee said the judge, Rosario Salvatore Aitala, and prosecutor Khan Karim Asad Ahmad are both charged with “preparing to attack a representative of a foreign country enjoying international protection in order to complicate international relations.”
Each also faces other charges. Conviction could bring prison terms of up to 12 years. The committee also said other ICC officials are being investigated.
The March warrant against Putin accuses him of personal responsibility for the abductions of children from Ukraine. The court also charged Maria Lvova-Belova, the Russian presidential commissioner for children’s rights.
It was the first time the global court has issued a warrant against a leader of one of the five permanent members of the U.N. Security Council. |
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Koreatown Directory, Interesting News, Memes, and Articles
Legal Opinions |
2023/03/15 13:18
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Looking for a Korean BBQ restaurant in Koreatown neighborhood? Or interesting Korean entertainment news or Ktown local news? You have come to the right place.
Win new Koreatown customers with a Koreatown Business News listing! Business listings for all of your Koreatown needs. The best business directory of Local Businesses in Koreatown Los Angeles, CA. Find business listings by business category, business title, phone numbers, driving directions, business addresses, website information, maps and more. Ktownpromo.net business directory is an online list of businesses within a particluar niche, business category and trendy news.
Search our directory to find local businesses that service your needs. Ktownpromo.net business directory represents a highly effective business opportunity because it's used by local customers looking for local businesses at the time they need those businesses. Get your business listed in Koreatown business listings. Easily list your business on the Koreatown business directory the way it should be listed. Enjoy the Best Funny Cat Memes as well. |
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Maryland mulls ending child sexual abuse lawsuit time limits
Legal Opinions |
2023/02/24 15:16
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Maryland lawmakers are considering ending the state’s statute of limitations for when lawsuits can be filed against institutions related to child sexual abuse, though the state’s courts are likely to decide whether such a change in the law is constitutional if the General Assembly passes one.
Accusers who are now adults were scheduled to testify in favor of the legislation at a hearing Thursday.
Currently, people in Maryland who say they were sexually abused as children can’t sue after they reach the age of 38. The Maryland House has approved legislation in recent years that would have lifted that age limit, but it stalled in the state Senate.
This year, state Sen. Will Smith, who chairs the Senate Judicial Proceedings Committee, is sponsoring a bill that would end the age limit. He said in an interview that he’s confident the bill will pass this year but that the judiciary likely will have the final say.
Fifteen states have lifted statutes of limitations for child sexual abuse, according to Child USAdvocacy, a nonprofit that advocates for better laws to protect children. Twenty-four have approved revival periods known as “lookback windows,” which are limited timeframes in which accusers can sue, regardless of how long ago the alleged abuse occurred.
In 2017, Maryland raised the age that accusers can file lawsuits from 25 to 38. But the law also included language, known as a statute of repose, that some say prevents lawmakers from extending the statute of limitations again.
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