The Trump administration is considering a new round of import tariffs on semiconductors to encourage more chip manufacturing to move to the United States. U.S. Commerce Secretary Lutnick said the measures could be paired with tariff exemptions for companies investing in domestic manufacturing, following an approach previously used by the administration for the pharmaceutical industry. Trump had already imposed 25% tariffs on some advanced semiconductors and ordered additional import duties on those chips in January after the U.S. Commerce Department completed a related trade investigation.