Cost of electronics expected to rise as Trump announces 100% tariff on computer chips

Donald Trump has said he will impose a 100% tariff on computer chips, likely resulting in the costs of electronic goods and household appliances rising. Speaking in the Oval Office on Wednesday (6 August) during a meeting with Apple CEO Tim Cook, the US president said that companies which make chips in the US would be spared the import tax. “So, 100% tariff on all chips and semiconductors coming into the United States. But if you've made a commitment to build or if you're in the process of building, as many are, there is no tariff," Trump said. The levy on all foreign computer chips is set to be officially announced next week and is expected to apply to all countries and companies.