AMD and Nvidia suffering as GPUs are “most at risk” of Trump’s trade war escalation
AMD, Intel, and Nvidia share prices dropped sharply over the weekend as President 45 announced that another $325bn worth of imported Chinese goods will face the same 25% trade tariffs that have already been imposed in the current US/China trade war. The shockwaves reverberated around the semiconductor industry as the market and analysts grow more concerned over the impact the fresh tariffs might have.
After the tweeted announcement, where all US policy now seemingly gets its first airing, the country’s top trade negotiators have confirmed that they will be moving ahead with the threatened extra tariffs. Previously the 25% tariff was only on $50bn worth of high-tech goods, with 10% on another $200bn. As of this Friday there will be a flat 25% tariff across the board, with $325bn of currently untaxed goodies getting the same treatment.
AMD took the biggest percentage hit before the markets opened on Monday morning, dropping more than 5%, while Nvidia’s share price dropped by more than 4%. Intel wasn’t as badly affected, losing only 3% of its own share price.
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