Stocks surged today, with the Dow, S&P 500, and Nasdaq all rising after former President Donald Trump announced a new tariff policy targeting imported semiconductor chips but hinted at key exemptions. Trump revealed a plan to impose a 100% tariff on all chips and semiconductors coming into the U.S. The move comes as part of a broader effort to strengthen domestic manufacturing and reduce U.S. reliance on overseas production of critical technology.

Significantly, Trump clarified there would be a carveout for companies that manufacture chips within the United States or have made clear commitments to building production facilities on American soil. “If you’re building in the United States, there’s no charge,” he stated, signaling that the high tariff would motivate leading tech and semiconductor businesses to invest in U.S. manufacturing infrastructure instead of offshoring production.

The announcement has already had echoes in the corporate world. Apple, a major player affected by chip supply chains, revealed its own $100 billion investment plan focused on expanding its American manufacturing footprint. Part of this initiative includes a partnership with Corning, which will dedicate an entire Kentucky factory to producing Apple’s signature glass components. This expansion is projected to boost Corning’s workforce in the state by 50%.

The broader market welcomed Trump’s remarks, interpreting the tariff carveout as a potential boon for major U.S. tech firms and domestic suppliers committed to local investment. Investors appeared optimistic that these measures could accelerate the trend of semiconductor production returning to the U.S., enhance supply chain resilience, and provide new growth opportunities for businesses contributing to homegrown chip manufacturing. The market’s positive reaction underscores the significance of policy uncertainty being replaced by clear incentives for domestic technology development.