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U.S. President Donald Trump announced plans to impose tariffs on steel imports in the upcoming week, with semiconductor chip taxes to follow in the week after.
Trump talked to reporters on the Air Force One plane as he headed to Alaska for a meeting with Russian President Vladimir Putin.
Trump mentioned that initially, the rates would be reduced to encourage companies to invest in domestic manufacturing. However, he intends to raise tariffs later, although the exact fees have not been determined.
