Trump's Chip Tariff May Raise Tech Prices

US President Donald Trump said on Wednesday (August 6) that he will 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.

The Republican president said that companies that make computer chips in the US would be spared the import tax. During the COVID-19 pandemic, a shortage of computer chips increased the price of autos and contributed to an uptick in overall inflation.

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"We’re going to be putting a very large tariff on chips and semiconductors,” Trump said in the Oval Office on Wednesday afternoon.

"But the good news

for companies like Apple is if you’re building in the United States or have committed to build, without question, committed to build in the United States, there will be no charge.”