Trump plans to impose a 100% tariff on chips, but companies like Apple that are planning to bring production back to the United States will be exempt.

Trump said that he will impose a 100% tariff on imported products, including semiconductors, but will exempt companies that transfer production back to the United States. He disclosed this tariff plan while announcing a $1 billion new investment with Apple CEO Tim Cook in the Oval Office. Trump told reporters, "We will impose high tariffs on chips and semiconductors, but for companies like Apple, the good news is, if you produce in the United States or have already committed to producing in the United States, you will definitely not be subject to tariffs." "In other words, we will impose about a 100% tariff on chips and semiconductors. But if you are manufacturing in the United States, you do not have to pay tariffs," Trump said. "Even if you are still under construction and not yet in production, you do not need to pay tariffs, considering the large number of jobs created and all the construction projects."