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President Trump said Wednesday he will impose “approximately 100%” tariffs on imported semiconductors.
The president made the announcement during an Oval Office event with Apple CEO Tim Cook to unveil a new $100 billion commitment by the tech giant to invest in U.S.-based manufacturing.
The hefty new tariff would not apply to companies that have agreed to start manufacturing microchips in the U.S.
“We’ll be putting a tariff on of approximately 100% on chips and semiconductors, but 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,” Mr. Trump said.
This is a breaking story; it will be updated.
