By Abidemi Samuel
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Donald Trump has announced plans to impose massive tariffs on Taiwan-made chips, semiconductors, and pharmaceuticals. He believes this move will encourage manufacturers to build their factories in the US, rather than relying on foreign production ¹.Trump expressed his disapproval of President Biden’s program, which provides subsidies to chip makers like Intel to build in the US. He argued that these companies don’t need incentives, and that tariffs would be a more effective way to bring production back to the US.The proposed tariffs could have significant implications for the tech industry, with the Consumer Technology Association warning that prices for laptops, tablets, and game consoles could increase substantially ¹. For example, the price of game consoles could rise from hundreds of dollars to over $1,000.It’s worth noting that Trump has previously proposed tariffs on Chinese goods, which could also impact Taiwanese firms operating in China ². The Taiwanese government has expressed concerns about the potential impact of these tariffs on their tech and electronics sectors.
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