Meanwhile, President Trump vowing big tariffs on computer chips unless companies manufacture them in the United States. CNBC's Megan Cassella is live in Washington with that. Megan, good morning.>> Hey, Melissa. Good morning. So, really for the first time, the president offering us last night a preview of just how high he's looking to lift those tariffs on all imports of semiconductors as soon as sometime this month.Take a listen. We'll be putting a tariff on of approximately 100% on chips and semiconductor ...

Uh, any questions, please. Mr. . >> President, Mr.. President, you promised on the campaign trail to bring forth a manufacturing renaissance. You just mentioned $17 trillion in your first seven months or so. Can you talk about how an investment like this, all the other ones that you laid out, will positively impact the millions of Americans that trusted you with their vote.>> Thank you very much. It uh it changes our country. I mean, our country is a very different country than it was six months ago.And uh ...

Geopolitical & Economic Landscape - China has become the world's second-largest economy and a military superpower, but faces industrial choke points hindering its independence [1] - These choke points make China vulnerable to US pressure in trade wars and export controls [1] Industrial Challenges & Opportunities - China faces challenges in advanced computer chips and essential manufacturing components [2] - China is systematically addressing these choke points using AI to accelerate progress [2] - Some choke points, like advanced semiconductor manufacturing, may take years or decades to resolve, while others are nearing resolution [2] Competitive Landscape - Products affected include carbon fiber for aviation and ball bearings for various industries [3] - European, Japanese, and American rivals are now on high alert due to improving Chinese quality and yield [3]