Core Viewpoint - Analysts suggest that President Trump's proposal to impose approximately 100% tariffs on all chips entering the U.S., while exempting companies producing chips domestically, is unlikely to lead to a significant return of chip manufacturing to the U.S. [1] Group 1: Impact on Major Companies - Industry giants like TSMC have already invested billions in building factories in the U.S., partly due to earlier government subsidies, and these projects will qualify for exemptions, reducing further expansion incentives [1] - TSMC estimates that its U.S. operations will see a 2-3 percentage point decline in gross margins, with the chips produced being older generation compared to those from its Taiwan facilities [1] Group 2: Broader Industry Implications - The tariffs may have a more significant impact on electronic companies that rely on imported components, such as Apple, which has committed to investing $600 billion in the U.S., most of which is unrelated to chip manufacturing, to avoid additional costs [1] - While tariffs could encourage more domestic manufacturing, industry observers believe that the primary drivers for U.S. chip investment will continue to be subsidies from the Chips Act, tax incentives, supply chain resilience, and geopolitical considerations rather than the tariff policy itself [1]

Group 1 - The core point of the news is that President Trump announced a plan to impose a 100% tariff on all imported chips and semiconductors, with exceptions for companies that build factories in the U.S. [1][3] - Trump emphasized that companies like Apple will not be subject to these tariffs if they commit to manufacturing in the U.S. [3] - The announcement is not yet a formal policy, and specific details regarding the implementation of these tariffs have not been disclosed [3]. Group 2 - The U.S. Commerce Department, under President Biden, successfully persuaded five leading semiconductor companies to establish chip manufacturing plants in the U.S., with domestic production accounting for approximately 12% of global semiconductor output, down from 40% in 1990 [3]. - The potential impact of these tariffs on global companies and governments remains unclear, although companies like TSMC, which produces chips for many U.S. firms, may not face increased tariff costs [3]. - Apple's CEO Tim Cook announced an additional $100 billion investment in U.S. research and manufacturing over the next four years, building on a previous commitment of $500 billion [4]. - Analysts suggest that Apple's recent investment announcement largely rehashes existing spending plans rather than representing new investments [4]. - The imposition of tariffs may disrupt the established global supply chain of the semiconductor industry, potentially leading to increased prices for consumers in the U.S. [4].