White House Economist Says Chip Tariff Exemptions Hinge on Firms’ Good-Faith Efforts

White House Council of Economic Advisers Chair Miran said the Biden administration will grant exemptions from the 145% U.S. tariff on Chinese semiconductors only to companies that demonstrate “good-faith” efforts to comply with national security and supply-chain rules. She added that the Commerce Department plans to conduct periodic checks to ensure beneficiaries continue to meet the conditions tied to the waiver. Miran also praised Federal Reserve Governor Christopher Waller, calling his record on monetary policy “impressive” and saying he has not succumbed to what she termed “tariff derangement syndrome,” a phrase critics use for excessive concern that trade measures could fuel inflation. Her remarks were made in a televised interview on Bloomberg TV.