If he follows through, it could raise prices on many day-to-day items as economists are almost unanimous that tariffs are passed on as consumer price increases.

Some are suggesting that this would affect the price of everything Apple makes, as its chips are made in Taiwan, but that’s almost certainly not the case … The Register reports that Trump threatened to set the rate as high as 100%.

President Donald Trump has stated that he plans to impose tariffs as high as 100% on semiconductors made outside the U.S. Trump previewed the plan Monday afternoon during a GOP event in his Doral, Florida,