WASHINGTON — President Trump announced plans Wednesday for a 100% tariff on “all chips and semiconductors” — insisting that there would be an orderly economic transition despite potential major impacts on US businesses.

“We’ll be putting a tariff, approximately 100%, on chips and semiconductors,” Trump said at an Oval Office event with Apple CEO Tim Cook, who arrived to announce plans for $600 billion in new investments in the US.

Trump said he would exempt companies that have plans to transition their manufacturing to the US — a hint that the world’s largest chip manufacturer, Taiwan’s TSMC, which is building massive manufacturing plants in Arizona, would be spared. 3

“If you’re building in the United States of America, there’s no charge, even though you’re building and you’re not

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