Adjusting Imports of Semiconductors, Semiconductor Manufacturing Equipment, and Their Derivative Products Into the United States

ProclamationTariff raisedSigned 01/14Federal Register 01/20Open the original

Summary

President Trump adopts a plan under section 232 to adjust imports of semiconductors, semiconductor manufacturing equipment, and their derivative products because they threaten US national security. In phase one, a 25% tariff on a narrow category of semiconductors is imposed immediately, but it does not apply when the chips support the buildout of the US technology supply chain.

By industry

Semiconductors & CHIPS Act1 trading day+0.1%p15 stocks5 trading days+7.2%p15 stocks20 trading days+9.6%p15 stocks
“semiconductors, semiconductor manufacturing equipment, and their derivative products”
Tariffs & Reshoring1 trading day+1.9%p15 stocks5 trading days+5.0%p15 stocks20 trading days+11.9%p15 stocks
“immediately imposing a 25 percent ad valorem tariff on a very narrow category of semiconductors”

Day by day after the announcement

Semiconductors & CHIPS Act stocks and the S&P 500 after the announcement, cumulative %
Day	Semiconductors & CHIPS Act stocks	S&P 500
26/01/13	0.0%	0.0%
26/01/14	−0.4%	−0.6%
26/01/15	+1.4%	−0.2%
26/01/16	+1.9%	−0.3%
26/01/20	+1.4%	−2.2%
26/01/21	+6.2%	−1.0%
26/01/22	+4.9%	−0.8%
26/01/23	+3.5%	−0.8%
26/01/26	+3.2%	−0.2%
26/01/27	+7.1%	+0.3%
26/01/28	+9.8%	+0.1%
26/01/29	+9.1%	+0.1%
26/01/30	+4.4%	−0.3%
26/02/02	+6.9%	+0.3%
26/02/03	+3.8%	−0.6%
26/02/04	+0.4%	−0.9%
26/02/05	−0.4%	−3.0%
26/02/06	+4.8%	−0.5%
26/02/09	+5.6%	+0.1%
26/02/10	+5.0%	−0.0%
26/02/11	+9.4%	−0.1%

Korean stocks in these industries

Samsung Electronics 005930
SK hynix 000660
SKC 011790
Hyundai Steel 004020
POSCO Holdings 005490
SeAH Steel Holdings 003030

Trades in these industries around the announcement

Members' and insiders' trades in the industries' stocks, 30 days before to 30 days after.

Teyin M. LiuDirector
BuyMicron Technology
Buy
Micron Technology
MU
$3.9M
11,600 sh
$3.9M
Filed 01/15
Traded 01/13
Teyin M. LiuDirector
BuyMicron Technology
Buy
Micron Technology
MU
$2.6M
7,820 sh
$2.6M
Filed 01/15
Traded 01/14
Teyin M. LiuDirector
BuyMicron Technology
Buy
Micron Technology
MU
$1.3M
3,780 sh
$1.3M
Filed 01/15
Traded 01/14
David ZinsnerEVP, CFO
BuyIntel
Buy
Intel
INTC
$250K
5,882 sh
$250K
Filed 01/27
Traded 01/26
Nancy PelosiRepresentative · Democrat · CA
Partial saleNvidia
Partial sale
Nvidia
NVDA
$1M–$5M
Spouse
$1M–$5M
Reported 01/23
Traded 25/12/24
Lisa T. SuChair, President & CEO
Sell10b5-1 planAdvanced Micro Devices
Sell10b5-1 plan
Advanced Micro Devices
AMD
$4.6M
20,988 sh
$4.6M
Filed 02/13
Traded 02/11
Lisa T. SuChair, President & CEO
Sell10b5-1 planAdvanced Micro Devices
Sell10b5-1 plan
Advanced Micro Devices
AMD
$4.1M
19,103 sh
$4.1M
Filed 02/13
Traded 02/11
Nancy PelosiRepresentative · Democrat · CA
BuyNvidia
Buy
Nvidia
NVDA
$250K–$500K
Spouse
$250K–$500K
Reported 01/23
Traded 01/16
Lisa T. SuChair, President & CEO
Sell10b5-1 planAdvanced Micro Devices
Sell10b5-1 plan
Advanced Micro Devices
AMD
$3.5M
16,366 sh
$3.5M
Filed 02/13
Traded 02/11
Lisa T. SuChair, President & CEO
Sell10b5-1 planAdvanced Micro Devices
Sell10b5-1 plan
Advanced Micro Devices
AMD
$3.1M
14,565 sh
$3.1M
Filed 02/13
Traded 02/11
Lisa T. SuChair, President & CEO
Sell10b5-1 planAdvanced Micro Devices
Sell10b5-1 plan
Advanced Micro Devices
AMD
$3M
14,005 sh
$3M
Filed 02/13
Traded 02/11
Lisa T. SuChair, President & CEO
Sell10b5-1 planAdvanced Micro Devices
Sell10b5-1 plan
Advanced Micro Devices
AMD
$2.6M
12,033 sh
$2.6M
Filed 02/13
Traded 02/11
Lisa T. SuChair, President & CEO
Sell10b5-1 planAdvanced Micro Devices
Sell10b5-1 plan
Advanced Micro Devices
AMD
$2.5M
11,630 sh
$2.5M
Filed 02/13
Traded 02/11
Sumit SadanaEVP and Chief Business Officer
SellMicron Technology
Sell
Micron Technology
MU
$7.5M
17,450 sh
$7.5M
Filed 02/04
Traded 02/02
Brice HillSVP, CFO
SellApplied Materials
Sell
Applied Materials
AMAT
$1.8M
5,000 sh
$1.8M
Filed 02/18
Traded 02/17
Nancy PelosiRepresentative · Democrat · CA
BuyNvidia
Buy
Nvidia
NVDA
$100K–$250K
Spouse
$100K–$250K
Reported 01/23
Traded 25/12/30
Lisa T. SuChair, President & CEO
Sell10b5-1 planAdvanced Micro Devices
Sell10b5-1 plan
Advanced Micro Devices
AMD
$1.7M
7,949 sh
$1.7M
Filed 02/13
Traded 02/11
Lisa T. SuChair, President & CEO
Sell10b5-1 planAdvanced Micro Devices
Sell10b5-1 plan
Advanced Micro Devices
AMD
$1.5M
6,856 sh
$1.5M
Filed 02/13
Traded 02/11
Ajay K. PuriEVP, Worldwide Field Ops
Sell10b5-1 planNvidia
Sell10b5-1 plan
Nvidia
NVDA
$36M
200,000 sh
$36M
Filed 01/23
Traded 01/21
Manish H. BhatiaEVP, Global Operations
SellMicron Technology
Sell
Micron Technology
MU
$3.3M
8,500 sh
$3.3M
Filed 01/26
Traded 01/22