President Donald Trump announced that the USA is looking to place tariffs on Chinese assembled electronics and chips produced in Taiwan.

Trump said that these industries had left the US and moved to Taiwan, CNA reported, which he claimed now accounts for approximately 98% of the global semiconductor market. He suggested a “25%, 50%, or even 100% tax” would force companies to build more production in the US.

U.S. President Donald Trump announced plans Monday night to impose massive tariffs on Taiwan-made chips in an attempt to incentivize companies to relocate production to the United States. On the one hand,

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.