The policy will no doubt raise concerns about increased costs for PC processors and a wide variety of electronics that use foreign-made chips.

Donald Trump plans to impose new tariffs on semiconductor and chip imports to boost US manufacturing. This follows a Commerce Department investigation into the semiconductor market. While smartphones and computers were previously excluded from higher tariffs,

President Donald Trump said on Tuesday that the United States would initially place a "small tariff" on pharmaceutical imports before hiking it to 150% within 18 months and eventually to 250% in an effort to boost domestic production.