U.S. President Donald Trump said Wednesday that he will impose a 100% tariff on computer chips , likely raising the cost of electronics, autos, household appliances and other goods deemed essential for the digital age.

“We’ll be putting a tariff of approximately 100% on chips and semiconductors,” Trump said in the Oval Office while meeting with Apple CEO Tim Cook. “But if you’re building in the United States of America, there’s no charge.”

The Republican president said companies that make computer chips in the U.S. would be spared the import tax. During the COVID-19 pandemic, a shortage of computer chips increased the price of autos and contributed to an overall uptick in inflation.

Inquiries sent to chip makers Nvidia and Intel were not immediately answered.

Demand for computer ch

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