Tan Yew Kong, who works for one of the biggest chip manufacturers in the world, compares his business to a tailor’s shop since it makes chips to order. We supply the cufflinks, the cloth, and everything else. Mr. Tan, who oversees GlobalFoundries’ operations in Singapore, adds, “You tell us what you like, what design you like, and we make it for you.”
These days, the company is also tailoring its future to fit the erratic tariff policies of US President Donald Trump. Companies and nations have been making offers to placate Washington before the 90-day delay on Trump’s high “Liberation Day” tariffs expires on July 9. Furthermore, it’s uncertain what will happen next.
On Friday, the president said that the US government would begin distributing letters outlining the increased tariff rates that will go into effect on August 1. Although he did not specify which nations would receive them, he stated that up to 12 letters will be distributed over the next few days, with charges ranging from “60% or 70% tariffs to 10 to 20% tariffs.”Semiconductors are now free from tariffs, but Trump has repeatedly threatened to impose them, and this uncertainty is making it nearly impossible for companies to make long-term plans.
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