Trump’s 100% Chip Tariff Sparks Market Gains, Apple Soars

U.S. stock futures advanced early Thursday as investors absorbed President Donald Trump’s late-Wednesday announcement of a sweeping 100% tariff on imported semiconductors and chips. The move, aimed at incentivizing domestic manufacturing, immediately impacted market sentiment, with tech giant Apple seeing a significant surge.

The new tariff, revealed from the Oval Office, includes a crucial exemption: companies committed to or actively building manufacturing facilities within the United States will not be subjected to the levy. This condition appears to have buoyed companies like Apple, which has previously pledged over $600 billion in U.S. investments since February, including a recent additional $100 billion commitment to U.S. companies and suppliers over the next four years. Apple shares jumped nearly 3% in extended trading, building on a 5% gain from the regular session.

Broader market indicators also reflected positive sentiment. Dow Jones Industrial Average futures climbed 40 points, while S&P 500 and Nasdaq 100 futures saw respective gains of 0.26% and 0.28%. This follows a positive close on Wednesday, where the S&P 500 rose 0.7%, the Nasdaq Composite advanced 1.2%, and the Dow gained 0.2%.

The semiconductor tariff comes amidst ongoing trade policy shifts. Earlier on Wednesday, President Trump imposed an additional 25% tariff on India, bringing total U.S. levies on the nation to 50%, citing India’s continued purchase of Russian oil. Traders are also monitoring upcoming economic releases, including weekly jobless claims and second-quarter labor productivity data, alongside earnings reports from major companies like Eli Lilly and Warner Bros. Discovery.

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