President Trump’s shift to sector tariffs that target semiconductors and pharmaceuticals is bad news for British and Irish exporters. Not even an announcement by Nvidia that it will build its AI supercomputers entirely in the US rather than Taiwan is going to dissuade Trump from the ambitious new phase of his tariff agenda. Quite the reverse — the computing giant’s plans to for more than a million sq ft of manufacturing space for microchips in Arizona and AI supercomputers in Texas appear to have encouraged him. “All I have to do is impose a tariff. The higher I do it, the faster they come,” Trump said in the Oval Office, apparently relishing the power he has in his hands to re-order global trade and manufacturing.

Source: The Times April 14, 2025 23:07 UTC