Trump says U.S. plans about 100% tariff on imported chips

Washington, Aug. 6 (CNA) U.S. President Donald Trump said Wednesday that the United States will place a tariff of approximately 100 percent on imported semiconductor chips.

"We'll be putting a tariff on of approximately 100% on chips and semiconductors. But if you're building in the United States of America, there's no charge," Trump said in the Oval Office.

The announcement came just hours before Trump's country-specific tariffs were set to take effect. It also came amid mounting concern in Taiwan - a leading producer of the world's most advanced semiconductors - about the potential impact a chip tariff could have on its semiconductor industry and overall economy.

Taiwan is home to the world's leading chipmaker, Taiwan Semiconductor Manufacturing Co. (TSMC), and plays a vital role in the global supply of semiconductors used in everything from smartphones and cars to military equipment.

In March, TSMC pledged to invest an additional US$100 billion to expand its semiconductor manufacturing operations in the United States.