Trump vows 100% tariff on chips, unless companies are building in the U.S.

In this articleAAPL your favorite stocksCREATE FREE ACCOUNTwatch now2:5402:54President Trump vows 100% tariff on chips, unless companies are building in the U.S.Squawk BoxPresident Donald Trump said Wednesday he will impose a 100% tariff on imports of semiconductors and chips, but not for companies that are "building in the United States."The announcement of new sector-specific tariffs shows Trump ratcheting up his efforts to pressure es to manufacture their ducts in the U.S.But specifics the plan, such as how much U.S. manufacturing a company needs to do in order to qualify for the tariff exemption, were not immediately ."We're going to be putting a very large tariff on chips and semiconductors," Trump said in the Oval Office on Wednesday afternoon."But the good news for companies Apple is if you're building in the United States or have committed to build, without question, committed to build in the United States, there will be no charge," he said."So in other words, we'll be putting a tariff on of apximately 100% on chips and semiconductors

But if you're building in the United States of America, there's no charge."Read more CNBC newsTrump's chip tariff declaration raises more questions than answeoftBank's Vision Fund posts best performance in 4 yearsApple and Trump detail $100 billion U.S. spending expansion, including $2.5 billion for an iPhone glass factoryOpenAI is giving ChatGPT to the government for $1Trump had previously signaled that the duties on chips and semiconductors, which have become key components in virtually every industry, could come as soon as next week.The remarks came after Trump touted a commitment by Apple to invest another $100 billion in the U.S. over the next four years, on top of the $500 billion the giant has previously pledged.Several top chipmakers, including Taiwan Semiconductor, Nvidia and GlobalFoundries, have already pledged to manufacture some of their ducts in the U.S.They're not alone: More than 130 jects in the U.S. totaling $600 billion dollars have been announced since 2020, according to the Semiconductor Industry Association.TSMC, the world's largest contract chip company, has pledged to invest a total of $165 billion in U.S. manufacturing.Nvidia, the world's most valuable company, said in April that it plans to spend $500 billion on AI infrastructure in the U.S. over the next four years.GlobalFoundries pledged $16 billion in June to expand its semiconductor manufacturing at facilities in New York and Vermont.Also in June, Texas Instruments announced a $60 billion boost to seven chip fabs in the U.S

The company counts Apple, Ford, Medtronic, Nvidia and SpaceX as customers.