ByAntonio Pequeño IV

ByAntonio Pequeño IV,

Forbes Staff.

President Donald Trump announced Wednesday a 100% tariff on chips and semiconductors, saying companies like Apple would receive exemptions for producing goods in the U.S.

Trump said the 100% tariff on all chips and semiconductors being exported to the U.S. could be avoided by companies if they have “made a commitment to build or if you are in the process of building” manufacturing plants on U.S. soil.