The tariffs would ensnare cutting-edge smartphone and PC-related chips for Apple, AMD and Nvidia if enacted. But Trump is betting his plan will bring more chip production to the US.

Taiwan Semiconductor Manufacturing Co. (TSMC) is at the centre of a geopolitical and economic tug-of-war as it navigates US efforts to localise semiconductor manufacturing. While the Biden administration allocated $6.

If he follows through, it could raise prices on many day-to-day items as economists are almost unanimous that tariffs are passed on as consumer price increases.

Donald Trump called for tariffs on foreign computer chips, semiconductors, and pharmaceuticals from places like Taiwan in the near future.