President Donald Trump has stated that he plans to impose tariffs as high as 100% on semiconductors made outside the U.S. Trump previewed the plan Monday afternoon during a GOP event in his Doral, Florida, golf resort. He indicated that the new tariffs could also apply to certain other products including pharmaceuticals.

President Donald Trump previously criticized the CHIPS and Science Act, leading to speculation over whether the law could be repealed or tweaked under the new administration.

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

U.S. President Donald Trump announced plans Monday night to impose massive tariffs on Taiwan-made chips in an attempt to incentivize companies to relocate production to the United States. On the one hand,

U.S. President Donald Trump plans to impose tariffs on imported computer chips, pharmaceuticals and steel, he said on Monday, to push companies to manufacture more in the United States. The comments mark the latest in a number of trade-related threats unleashed by Trump in recent days.

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.

Though the United States is the global leader in designing chips, the vast majority of chip production happens overseas.