August 7, 2025 12:04 AM GMT Semiconductors | North America Thoughts on Section 232 Our immediate thoughts are that the semi beneficiaries aren't necessarily those with a large US manufacturing base (INTC, TXN), and reshoring to the US is an undeniable tailwind for SPE. Key Takeaways What happened? At a White House press conference discussing the newly announced American Manufacturing Program, including AAPL's $600bn commitment to domestic manufacturing, President Trump commented on Section 232 semiconductor ...