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

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%