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Trump says he plans to put a 100% tariff on computer chips, likely pushing up cost of electronics
President Donald Trump says he's imposing a 100% tariff on computer chips— a move that will likely raise the cost of electronics, autos, household appliances and other essential goods.
WASHINGTON (AP) — President Donald Trump said Wednesday 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. Essentially, the president is betting that higher chip costs would force most companies to open factories domestically, despite the risk that tariffs could squeeze corporate profits and push up prices for mobile phones, TVs and refrigerators. The mix of funding support, tax credits and other financial incentives were meant to draw in private investment, a strategy that Trump has vocally opposed.
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