US President Donald Trump has announced a 100 percent tariff on imported computer chips and semiconductors, aiming to push global tech firms to shift production to the United States. Companies manufacturing within the US will be exempt, according to Firstpost.

The move is expected to raise prices on electronics, cars, and other tech-driven goods. It comes alongside a separate decision to double tariffs on Indian imports to 50 percent, in response to India’s continued oil trade with Russia.

The new tariffs will take effect in 21 days, giving time for negotiations. Trump’s approach marks a shift from subsidy-led strategies to using tariffs as economic leverage, Firstpost reported.