Trump Announces 100% Tariffs on Chips – Price Hike Concerns

Former U.S. President Donald Trump has announced his intention to impose 100% tariffs on microchips and semiconductors. This move comes as Apple announced significant investments in the United States.

Trump stated that the tariffs would be “good news for American companies that manufacture” these items. Simultaneously, Apple announced a $100 billion investment to expand its operations in the U.S., including creating a supply chain for its chips.

The U.S. government has already collected substantial revenue from tariffs, with nearly $30 billion last month, a 242% increase compared to July of the previous year. In total, $100 billion in tariff revenue has been collected since April.

The imposition of tariffs has raised concerns about potential price increases on devices and consumer electronics, as well as warnings from companies like Walmart and Procter & Gamble.