US President Donald Trump on Wednesday announced a steep 100% tariff on imported computer chips and semiconductors, a move that could lead to higher prices for electronics, cars, appliances, and other tech-driven products.Speaking at the Oval Office alongside Apple CEO Tim Cook, Trump said, “We’ll be putting a tariff of approximately 100% on chips and semiconductors.” “But if you’re building in the United States of America, there’s no charge,” he added.This marks a major policy shift just three months after Trump temporarily exempted most electronics from harsh tariffs. In April, devices like smartphones, computers, and other gadgets were excluded from additional tariffs, though some existing duties still applied. US Customs had recently updated guidance to exclude certain tech items from the 125% tariff on Chinese goods and a base 10% global tariff.Trump’s move aims to encourage chip manufacturing within the US Companies like Apple, Nvidia, and Intel, which have made large investments in domestic production — may benefit from the exemption.Big Tech has pledged around $1.5 trillion in US investments since Trump returned to office in January.Apple on Wednesday announced a new $100 billion investment to boost manufacturing in the United States. The move is expected to help the company avoid potential tariffs on iPhones.With this new pledge, Apple’s total commitment to US investment now stands at $600 billion over the next four years. Earlier this year, the tech giant had announced plans to invest $500 billion and create 20,000 jobs across the country.The exemption could help Apple avoid tariff-related cost pressures on iPhones produced in China and India, ahead of new model launches next month.Apple shares jumped 5% during regular trading and rose another 3% in after-hours trading following the tariff announcement. Nvidia, which recently hit a $1 trillion market value and has expanded US operations, also gained. Intel, despite recent struggles, saw its stock climb as well.Meanwhile, demand for chips remains strong globally, with sales growing nearly 20% year-on-year as of June, according to the World Semiconductor Trade Statistics.