The tariffs would ensnare cutting-edge smartphone and PC-related chips for Apple, AMD and Nvidia if enacted. But Trump is betting his plan will bring more chip production to the US.

If he follows through, it could raise prices on many day-to-day items as economists are almost unanimous that tariffs are passed on as consumer price increases.

Calling Biden’s CHIPS Act incentives ‘ridiculous,’ he claimed companies will build new plants in the US to avoid higher taxes and called DeepSeek’s AI a ‘positive.’