Jensen Huang holding an RTX blackwell.
Image credit: Nvidia
Nvidia confirmed its CEO Jensen Huang’s meeting with U.S. president Donald Trump to discuss U.S. tech and AI leadership.
We were grateful for the opportunity to discuss semiconductors and AI policies with President Trump. Jensen and President Trump discussed the importance to strengthen U.S. technology leadership and AI,” said a Nvidia spokesperson.
The event took place today, coincidentally a day before Trump announced a series of tariffs to be imposed on products such as semiconductor chips.
Trump announced earlier this week that he would be imposing tariffs on foreign computer chip, semiconductor, and pharmaceutical products from places such as Taiwan in the near term.
Trump stated in his speech at the House GOP Issues Conference held in Miami that manufacturers don’t also need an incentive to construct their chip factories in America. He said he would end Joe Biden’s program that paid subsidies to chip manufacturers like Intel to build in America.
Such tariffs could have a huge impact. The Consumer Technology Association (the lobbying group of the U.S. electronic industry) warned that tariffs would increase the price of game consoles by $1,000.
Trump said, “We’re going place tariffs on foreign produced computer chips, semiconductors, and pharmaceuticals in the very near future to bring production of these essential products back to the United States of America.” “They left and went to Taiwan which is 98% of the business in the chip industry, by the way.” We want them to return, but we won’t give them billions like the ridiculous program Biden has.
Chips & Science Act, a bipartisan act, allocated $52 billion to companies to help them build factories in the U.S. Intel TSMC Coherent Analog Devices and other companies received grants from the Biden Administration.
“Give everyone billions of dollar. They already have billions. They have nothing but money Joe. Trump said, “They didn’t need any money.” “They needed an inducement.” The incentive will be that they won’t want to pay a tax of 25, 50, or even 100%. They will build the factory themselves. We don’t need to give them any money. They will come because it is good for them. You give them money and then they don’t even know what to do.
The SIA said that thanks to incentives, rather than tariffs the Chips and Science Act will strengthen American manufacturing, increase jobs, boost economic development, and promote national safety. The group stated that the act’s manufacturing incentives sparked significant announced investments in the U.S. Intel announced this week that it had received more than $ 2 billion under the act.
In fact, companies within the semiconductor ecosystem have announced Since the Chips and Science Act’s introduction, 90 new projectshave been announced in 28 U.S. States. These projects represent hundreds of billions of private investment dollars. These projects will support more than 200,000 additional U.S. job opportunities in the semiconductor industry and create over 58,000 new jobs.
During CES 2025, the Consumer Technology Association stated that proposed tariffs may increase prices for laptops and tablets up to 46%, consoles up to 40%, and smartphones up 26%.
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