India, Aug. 8 -- US President Donald Trump has vowed 100% tariff on chips, unless companies involved are building those in the USA.

Trump said: "We will be putting in tariff at 100% on semiconductors, unless they are being built in the USA. If you are building those in the United States, there is no charge. There are things like a big number of jobs, if you are building chips in the United States."

CNBC's Megan Cassella added that the list of companies with the commitment to build chips in the United States is quite long, especially after the CHIPS Act was announced by the Joe Biden administration on Aug. 9, 2022. The Act authorizes roughly $280 billion in new funding to boost domestic research and manufacturing of semiconductors in the...