President Donald Trump said he plans to impose 100% tariffs on computer chips and semiconductors, with an exception for companies that have committed to building in the United States.”We’ll be putting a tariff, approximately 100%, on chips and semiconductors,” Trump said at an Oval Office event on Aug. 6 with Apple CEO Tim Cook, who was visiting the White House to announce plans for an additional $100 billion in investment in the U.S.
Trump said companies, such as Apple, that have committed to building in the United States would be spared from the tariffs. He did not provide details on when the tariffs would go into effect.
“If you’re building in the United States of America, there’s no charge. Even though you’re building and you’re not producing yet in terms of the big numbers of jobs… there will be no charge.”
The tariffs on computer chips and semiconductors could raise prices on goods such as personal computers, smartphones, electric vehicles, and video game consoles.In April, Nvidia announced plans to manufacture its AI supercomputers entirely in the United States for the first time, committing to building its advanced chips in Arizona and AI supercomputers in Texas.
The White House hailed Nvidia’s decision as “the Trump Effect in action.””Onshoring these industries is good for the American worker, good for the American economy, and good for American national security,” the White House said in a statement while announcing Nvidia’s plans.
Trump has currently placed tariffs on various sectors, including 50% on steel, aluminum, and copper, and 25% on imported automobiles. Dozens of countries are also facing country-specific tariffs first announced on April 2, dubbed as Liberation Day by Trump.
This article originally appeared on USA TODAY: Trump to levy 100% tariffs on computer chips and semiconductors
