Trump Proposes 100% Tariff on Chip Imports with U.S. Manufacturing Exemptions

President TRUMP announced plans to impose a 100% tariff on semiconductor imports, with exemptions for companies committed to U.S. manufacturing. "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 stated during a White House event with Apple CEO Tim Cook.

Apple's $100 billion U.S. manufacturing investment was highlighted as a prime example of tariff-exempt activity. The tech giant's shares rose 5% during regular trading and gained another 3% post-announcement. While Apple isn't relocating iPhone production entirely, the commitment expands domestic component manufacturing following prolonged White House pressure.

The policy emerges as Apple faces significant tariff headwinds, with the company estimating $1.1 billion in potential tariff costs this quarter. Market observers note the announcement could signal broader supply chain realignments in the tech sector.