President’s tariff plan takes effect with new semiconductor tax

The president announced a new 100% tariff on imported chips and semiconductors, with an exception for companies committed to building in the U.S. and raised India's tariff from 25% to 50% due to its oil purchases from Russia. Meanwhile, a meeting between U.S. envoy Steve Witkoff and Russian President Putin was deemed productive, potentially leading to a summit with Ukraine's President Zelenskyy, though plans remain uncertain.