President Donald Trump on Wednesday said he plans to impose a 100% import tax on chips and semiconductors, once again weaponizing tariffs as a way to incentivize manufacturing in the United States.
“We’ll be putting a tariff of approximately 100% on chips and semiconductors. But if you’re building in the United States of America, there’s no charge,” Trump said during a White House event.
It remains unclear when the levy will go into effect or how much a company would have to invest in the United States to gain an exemption from the tax.