President Donald Trump announced plans to impose new tariffs on steel and semiconductor chip imports, with the measures expected to be introduced starting next week. The tariffs on semiconductor chips could initially be set at lower rates to allow companies time to establish domestic manufacturing in the United States, but could eventually reach as high as 300 percent. Trump emphasized that these tariffs aim to encourage the development of a U.S.-based semiconductor supply chain. The proposed tariffs mark a continuation of Trump's trade policy approach, which has drawn criticism for potentially disrupting established trade relationships and impacting global supply chains. Experts and commentators have expressed concerns about the economic consequences for both American consumers and international partners, particularly small businesses in Asia, as well as the broader implications for the U.S.'s role in global trade.