U.S. Secretary of Commerce Howard Lutnick stated that tariffs based on Section 232 of the Trade Expansion Act are expected to be announced in two weeks.
On the 27th (local time), Minister Lutnick noted this as he met with U.S. President Donald Trump and European Commission President Ursula von der Leyen in Turnberry, Scotland.
Minister Lutnick emphasized that "semiconductor production will be brought back to the United States," while President Trump mentioned that "many corporations are coming into the U.S. from Taiwan and other places."
The U.S. Trade Expansion Act Section 232 grants the president the authority to restrict imports through tariffs and other measures if it is determined that the import of specific items threatens U.S. national security. The Trump administration is currently imposing high tariffs by item according to this act, and the Department of Commerce is also conducting related investigations into semiconductors, pharmaceuticals, copper, and more.
After the investigation, the Secretary of Commerce must submit a report to the president, who must decide on measures within 90 days.