Trump plans to impose 100% tariff on imported semiconductors

WASHINGTON -- US President Donald Trump said Wednesday that he plans to impose a 100 percent tariff on imported semiconductors.

"We'll be putting a tariff of approximately 100 percent on chips and semiconductors. But if you're building in the United States of America, there's no charge," he told reporters at the White House.

Together with Apple's Chief Executive Tim Cook, he also announced that Apple plans to invest an additional $100 billion in the United States.

In a press release, Apple said the new commitment is a significant acceleration of its US investment that now totals $600 billion over the next four years.

Apple also announced the American Manufacturing Program, through which it will increase its investment across America and incentivize global companies to manufacture even more critical components in the United States.

This is the latest promise made by Apple to bring more of its supply chain and advanced manufacturing back to the United States and avoid tariffs on its iPhones, local media reported on Wednesday.

In May, Trump threatened Apple and other phone manufacturers with a 25 percent tariff on products made outside the United States.