WASHINGTON — A day after U.S. President Donald Trump announced sweeping global tariffs, Commerce Secret Howard Lutnick said the administration’s strategy is to boost domestic factory production, including wrestling semiconductor manufacturing away from Taiwan.
Speaking on CNBC on Thursday, Lutnick explained that semiconductors are not part of the across-the-board 10% baseline tariffs or the individual reciprocal tariffs announced Wednesday, but that they will be targeted later.
