Notice of Action: China's Acts, Policies, and Practices Related to Targeting of the Semiconductor Industry for Dominance

USTR noticeTariff raisedFederal Register 25/12/29Open the original

Summary

USTR determines that China's targeting of the semiconductor industry is actionable under Section 301 and takes tariff action on semiconductors from China, starting at 0 percent and rising in 18 months on June 23, 2027, to a rate announced at least 30 days before. The action is effective December 23, 2025.

By industry

Semiconductors & CHIPS Act1 trading day+0.0%p15 stocks5 trading days+5.6%p15 stocks20 trading days+18.5%p15 stocks
“taking tariff action now on semiconductors from China, with an initial tariff level of 0 percent”
Tariffs & Reshoring1 trading day−0.9%p15 stocks5 trading days+2.9%p15 stocks20 trading days+6.9%p15 stocks
“China's acts, policies, and practices are actionable under Section 301 of the Trade Act of 1974”

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
25/12/26	0.0%	0.0%
25/12/29	−0.3%	−0.3%
25/12/30	−0.5%	−0.5%
25/12/31	−1.9%	−1.2%
26/01/02	+2.8%	−1.0%
26/01/05	+5.2%	−0.4%
26/01/06	+10.2%	+0.3%
26/01/07	+10.0%	−0.0%
26/01/08	+7.6%	+0.0%
26/01/09	+11.1%	+0.6%
26/01/12	+10.3%	+0.7%
26/01/13	+11.4%	+0.5%
26/01/14	+10.9%	−0.1%
26/01/15	+13.0%	+0.3%
26/01/16	+13.4%	+0.2%
26/01/20	+13.1%	−1.8%
26/01/21	+18.6%	−0.5%
26/01/22	+16.9%	−0.3%
26/01/23	+15.2%	−0.3%
26/01/26	+14.9%	+0.3%
26/01/27	+19.3%	+0.8%

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
Mark A. StevensDirector
SellNvidia
Sell
Nvidia
NVDA
$63.6M
350,000 sh
$63.6M
Filed 25/12/09
Traded 25/12/05
Harvey C. JonesDirector
SellNvidia
Sell
Nvidia
NVDA
$44.3M
250,000 sh
$44.3M
Filed 25/12/17
Traded 25/12/15
Mark A. StevensDirector
SellNvidia
Sell
Nvidia
NVDA
$40.1M
222,500 sh
$40.1M
Filed 25/12/22
Traded 25/12/19
Lisa T. SuChair, President & CEO
Sell10b5-1 planAdvanced Micro Devices
Sell10b5-1 plan
Advanced Micro Devices
AMD
$6.2M
29,101 sh
$6.2M
Filed 25/12/12
Traded 25/12/11
Lisa T. SuChair, President & CEO
Sell10b5-1 planAdvanced Micro Devices
Sell10b5-1 plan
Advanced Micro Devices
AMD
$4.9M
23,205 sh
$4.9M
Filed 25/12/12
Traded 25/12/11
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
15,991 sh
$3.5M
Filed 25/12/12
Traded 25/12/11
Lisa T. SuChair, President & CEO
Sell10b5-1 planAdvanced Micro Devices
Sell10b5-1 plan
Advanced Micro Devices
AMD
$3.2M
14,892 sh
$3.2M
Filed 25/12/12
Traded 25/12/11
Lisa T. SuChair, President & CEO
Sell10b5-1 planAdvanced Micro Devices
Sell10b5-1 plan
Advanced Micro Devices
AMD
$2.6M
12,019 sh
$2.6M
Filed 25/12/12
Traded 25/12/11
Timothy ArcherPresident and CEO
Sell10b5-1 planLam Research
Sell10b5-1 plan
Lam Research
LRCX
$18.6M
113,300 sh
$18.6M
Filed 25/12/18
Traded 25/12/17
Lisa T. SuChair, President & CEO
Sell10b5-1 planAdvanced Micro Devices
Sell10b5-1 plan
Advanced Micro Devices
AMD
$1.8M
8,201 sh
$1.8M
Filed 25/12/12
Traded 25/12/11
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
$1.5M
6,877 sh
$1.5M
Filed 25/12/12
Traded 25/12/11
Lisa T. SuChair, President & CEO
Sell10b5-1 planAdvanced Micro Devices
Sell10b5-1 plan
Advanced Micro Devices
AMD
$1.4M
6,700 sh
$1.4M
Filed 25/12/12
Traded 25/12/11
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