President Trump announced a slate of tariffs to address a national-security threat posed by imports of drones and their components, particularly from China. In a statement, the White House said the drone-tariff program would protect the security of the U.S. and its defense and defense-adjacent industrial base, while creating jobs. “U.S. drone production needs to be expanded rapidly to ensure U.S. national and economic security,” it said. The decision gave a boost to shares of U.S.-based drone companies, including AeroVironment, Red Cat Holdings and Unusual Machines, which is backed by Donald Trump Jr. Shares of Unusual Machines, a drone-parts maker, jumped around 14% in pre-market trading. The action is meant to counter Chinese dominance in the commercial drone market and reshore production to the U.S. Drones and components from China will face significantly higher levies than those from allied nations. The move also comes ahead of an expected Sept. 24 meeting between Trump and Chinese leader Xi Jinping.

Full report : Trump Slaps 100% Tariffs on Drones, Deepening China Supply Rift.