On September 4th, US President Trump announced that the US government would impose tariffs on imported products from semiconductor companies that have not relocated production to the US. He emphasized that companies investing in or planning to build factories in the US would be exempt from the tariffs. Trump described the tariffs as "substantial, but not excessive," and singled out Apple CEO Tim Cook as "excellent" given Apple's commitment to invest $600 billion in the US over the next four years. Previously, TSMC, Samsung, and SK Hynix had all announced plans to build factories in the US. Trump's frequent use of tariffs has disrupted global markets and exacerbated trade uncertainty. On August 6th, Trump announced that the US would impose a 100% tariff on imported semiconductors. This rate would apply to "all chips and semiconductors entering the United States," but would not apply to companies that have committed to or initiated manufacturing in the US. His tariff policy is currently facing legal challenges, and the government is seeking Supreme Court intervention.