TI and Intel Shares Sink as China Tariffs Hit US-Made Chips (1)

Shares of chipmakers with US manufacturing plants fell Friday after China announced new tariffs, targeting semiconductor imports.

Beijing will raise tariffs on all US goods from 84% to 125%, and the China Semiconductor Industry Association issued an emergency notice, which stated that customs determines the origin of imports by where chips are manufactured, not the home country of origin.

The news put particular pressure on Texas Instruments Inc. and Intel Corp., which have semiconductor plants located in the US. TI shares fell 6.8%, while Intel sank 3.7% and GlobalFoundries Inc. dropped 2.4%.

“This is an incredibly uncertain ...