The U.S. plans to push chipmakers to match the volume of semiconductors imported from overseas through domestic production or face tariffs. President Trump offers exemptions for firms producing chips domestically. Companies failing to meet a 1:1 ratio over time would be subject to tariffs, according to the Wall Street Journal. Commerce Secretary Howard Lutnick discussed the idea with semiconductor executives for economic security. The White House emphasized the importance of national and economic security by reducing reliance on foreign imports for essential semiconductor products. Trump’s efforts have prompted significant investments in U.S. manufacturing by domestic and international companies. GlobalFoundries and Intel shares rose by 5% following the news, given their significant U.S. manufacturing capacity. GlobalFoundries, the third-largest contract semiconductor manufacturer, has a $16 billion investment plan for factory expansions in New York and Vermont.

Read more at Yahoo Finance: US plans 1:1 chip production rule to curb overseas reliance, WSJ reports