Chip Makers Gain After Trump Calls Off European Tariffs

Dow Jones01-22 04:14

By Elias Schisgall

Shares of chip manufacturers jumped following President Trump's announcement that he wouldn't impose tariffs on a range of European countries, citing a framework for a deal on Greenland and the Arctic.

Advanced Micro Devices rose 8.3%, Micron Technology was up 7%, and Nvidia was up 3.8% late Wednesday afternoon. Qualcomm, Texas Instruments, and TSMC also saw a moderate boost shortly after the announcement, while Broadcom reversed some of its losses from the session.

Trump said in a Truth Social post that he would call off the tariffs after a meeting at Davos with North Atlantic Treaty Organization Secretary General Mark Rutte, adding that the two reached a framework for a deal over Greenland and the Arctic.

The 10% tariffs were set to go into effect Feb. 1, and would then jump to 25% in June if no Greenland deal had been reached. They would have hit Denmark, Norway, Sweden, France, Germany, the U.K., the Netherlands and Finland.

Write to Elias Schisgall at elias.schisgall@wsj.com

(END) Dow Jones Newswires

January 21, 2026 15:14 ET (20:14 GMT)

Copyright (c) 2026 Dow Jones & Company, Inc.

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They would have hit Denmark, Norway, Sweden, France, Germany, the U.K., the Netherlands and Finland. \n\n\n \n\n\n  Write to Elias Schisgall at elias.schisgall@wsj.com \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  January 21, 2026 15:14 ET (20:14 GMT)\n\n\n  Copyright (c) 2026 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"policyRegulatory","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":1,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.36.0","shortVersion":"4.36.0","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2605048078","isCrawlerRequest":true}