President Donald Trump said the United States will impose an import tariff of roughly 100 % on all semiconductor chips, but promised that companies manufacturing in the country—or that have formally committed to build plants—will be exempt. Speaking in the Oval Office, he warned that firms failing to deliver on U.S. factory pledges would be billed retroactively for the duty. The announcement coincided with Apple Chief Executive Officer Tim Cook unveiling an additional $100 billion commitment to U.S. manufacturing, raising the iPhone maker’s pledged domestic spending to $600 billion over the next four years. Apple plans to fabricate iPhone and Apple Watch glass in Kentucky, produce chips in Texas, Utah, Arizona and New York, build a rare-earth recycling line in California and expand its network of U.S. data centres. Trump confirmed Apple would be exempt from the incoming chip levy, as would other companies that follow suit. Trump also claimed that Taiwan Semiconductor Manufacturing Co. will invest $300 billion in the United States, a figure more than double the chipmaker’s publicly announced $165 billion programme. Analysts see the higher number as part of the president’s negotiating strategy ahead of the tariff rollout. Exemptions are nonetheless expected for TSMC, Nvidia, Samsung and other chip producers with existing or planned U.S. capacity. Separately, the administration imposed an additional 25 % duty on Indian imports, lifting the overall tariff rate on a broad range of Indian goods to 50 %. New levies on other trading partners and on products containing chips are under consideration, Trump said.