Commerce Secretary Howard Lutnick, discussing the new trade agreement between the U.S. and Taiwan, told CNBC that Taiwan-based chip companies who don’t build in the U.S are "likely to face a 100% tariff." Lutnick said the government’s goal is to bring 40% of Taiwan’s semiconductor supply chain to the United States, as Washington pushes to expand domestic chip production amid growing geopolitical competition over access to semiconductors. Full details: cnb.cx/4qHwPSJ | CNBC

India–U.S. Trade Deal Stalled as PM Modi Didn’t Call Trump: U.S. Commerce Secretary! The long-anticipated India–United States trade agreement was delayed because Indian Prime Minister Narendra Modi did not make a direct phone call to President Donald Trump to finalise the negotiations, U.S. Commerce Secretary Howard Lutnick claimed on Friday. | The Asian Chronicle