Commerce Secretary Howard Lutnick, discussing the new trade agreement between the U.S. and Taiwan, told CNBC that Taiwan-based chip companies who don’t build in the U.S are "likely to face a 100% tariff." Lutnick said the government’s goal is to bring 40% of Taiwan’s semiconductor supply chain to the United States, as Washington pushes to expand domestic chip production amid growing geopolitical competition over access to semiconductors. Full details: cnb.cx/4qHwPSJ | CNBC
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