Donald Trump is proposing a 100% tariff on computer chips, a move that could significantly impact the prices of electronic products. This comes after his announcement of a 50% tariff on India. The potential consequences extend to a broad range of consumer goods, including electronics, appliances, automobiles, and digital gadgets.
Trump explained in the Oval Office that the new tariffs will apply to all imported chips and semiconductors. Companies that manufacture within the US, or are actively setting up US-based manufacturing, would be excluded. He underscored the importance of honoring manufacturing commitments, suggesting that failure to do so would result in levied tariffs and retrospective payments.