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Donald Trump’s plan to impose 100% tariffs on semiconductors would be “devastating” for the Philippines, an industry leader has warned today.
The president of the Philippine semiconductor industry Dan Lachica said that around 70% of the country’s electronic exports are semiconductors, Reuters reports.
“We’ll be putting a tariff of approximately 100% on chips and semiconductors. But if you’re building in the United States of America, there’s no charge.”
“While we continue to expect near-term volatility, long-term investors underallocated to our Transformational Innovation Opportunities can consider using market dips to add exposure to these structural growth stories.”