The US imposed a first round of tariffs on $34 billion of Chinese products on July 6. US President Donald Trump has said he is "ready to go" with tariffs on $500 billion in imports. Semiconductors are America's fourth-largest export, with a trade surplus of over $6 billion in 2017. The US has consistently had a semiconductor trade surplus with China, with a surplus of approximately $2 billion in 2017, according to the US International Trade Commission. "Tariffs on US semiconductor-related imports from China would cause US companies to pay tariffs on their own products," the SIA claimed.