President Donald Trump says he's imposing a 100% tariff on computer chips— a move that will likely raise the cost of electronics, autos, household appliances and other essential goods.

Trump's announcement on CNBC's "Squawk Box" came on the heels of him unveiling new tariff rates on numerous countries, with some facing steep hikes.

President Donald Trump said he will impose a 100% tariff on imports of semiconductors and chips, but not for companies that are "building in the United States."