Most European chip stocks climb as exemption blunts Trump's 100% tariff threat

Soitec SA

07/08/2025 10:34

** Most European chip stocks rise after President Donald Trump said the U.S. will impose 100% tariff on imported chips but exempted companies that manufacture in the U.S. or have committed to do so

** STOXX Europe Technology index .SX8P up 1%, among best performers on the wider STOXX 600 .STOXX

** "European semiconductor equipment imports have been confirmed as zero-rated after the recent U.S. and Europe trade agreement," say Citigroup analysts

** "If the 100% chip tariffs spur any additional chip manufacturing capacity expansion in the U.S., it should be viewed favourably for equipment names, with ASML the most broadly exposed to any fab expansion,"

** ASMI ASMI.AS, BESI BESI.AS and ASML ASML.AS rise between 1.4% and 1.8%; Siltronic WAFGn.DE and ams OSRAM AMS.S climb between 1.5%-1.9%

** Soitec SOIT.PA and Nordic Semiconductor NOD.OL rise 1.6% and 4%, respectively

** Citi says Infineon IFXGn.DE and STMicro STMPA.PA are most affected by this announcement; the Franco-Italian company no longer has U.S. manufacturing footprint, though some of its U.S. sales are micro-controllers made at TSMC 2330.TW, which should not incur tariffs given the latter's U.S. investment plans

**IFXGn trades flat, STMPA down 0.7%

 (Reporting by Ozan Ergenay and Danilo Masoni)

 ((ozan.ergenay@thomsonreuters.com))