Shares of major chip stocks rose as investors bet these companies' U.S. investments may help mitigate President Trump's proposed 100% semiconductor tariffs.

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."