Though the United States is the global leader in designing chips, the vast majority of chip production happens overseas, particularly in U.S.-ally Taiwan.

Donald Trump called for tariffs on foreign computer chips, semiconductors, and pharmaceuticals from places like Taiwan in the near future.

The tariffs would ensnare cutting-edge smartphone and PC-related chips for Apple, AMD and Nvidia if enacted. But Trump is betting his plan will bring more chip production to the US.