Trump plans 100% tariffs on chips but spares companies ‘building in US’

President’s plan expected to increase cost of electronics and household goods but US-produced chips to be exempt

Donald Trump said he would impose a 100% tariff on computer chips, likely raising the cost of electronics, autos, household appliances and other goods deemed essential for the digital age.

“We’ll be putting a tariff on of approximately 100% on chips and semiconductors,” Trump said in the Oval Office while meeting with Apple CEO Tim Cook. “But if you’re building in the United States of America, there’s no charge.”