Trump unveils new tariffs, lauds Apple progress

Donald Trump Announces 100% Tariffs on Computer Chips Made Outside US

On Thursday, August 7, 2025, US President Donald Trump declared 100% tariffs on computer chips and semiconductors produced outside the United States. This decision could lead to higher costs for electronics manufactured abroad, including items like TVs, video game consoles, kitchen appliances, and cars.

The implementation date for these tariffs has not been specified. Today, a previously announced increase in tariff rates on various global trading partners, ranging from 10% to over 40%, takes effect.

In response to the tech tariffs, Apple CEO Tim Cook revealed plans for his company to invest an additional $100 billion in US manufacturing. Cook stated that all smartwatch and iPhone glass worldwide would soon be manufactured in Kentucky. During a meeting in the Oval Office, Mr. Cook presented President Trump with a unique trophy made by Apple in the US.

President Trump emphasized the importance of ensuring that iPhones sold in the US are also made in America, calling it a significant step towards this goal. Trump had previously criticized Cook and Apple for attempting to avoid his tariffs by relocating iPhone production from China to India.

Furthermore, Trump issued an executive order imposing an additional 25% tariff on India for its continued purchase of Russian oil. As a result, Indian imports into the US will face a 50% tariff starting from August 27. This move aims to increase pressure on Russia to resolve the conflict in Ukraine.

In response to Apple's investment in US manufacturing, the company's stock price surged by nearly 6% during Wednesday's midday trading. Investors may view this as a positive gesture by Cook towards Trump, according to Nancy Tengler, CEO of Laffer Tengler Investments, which holds Apple stock.