Officials in Taiwan and South Korea say they don't expect Trump's 100% tariff on foreign chips to affect TSMC or Samsung, likely due to their factory investments in the US.

Trump on Wednesday said he would impose roughly 100% tariffs on all chips coming into the U.S., but exempt technology companies that have promised to manufacture domestically. TSMC receiving an exemption would make sense, as it has pledged a total of $165 billion in U.S. investment, including building three new chip plants.

President Donald Trump stunned markets Wednesday by announcing 100% tariffs on imported semiconductor chips — but major chip stocks rallied. Taiwanese chip giant TSMC's stock closed 4.9% higher. In South Korea, Samsung Electronics ended 2.5% higher while SK Hynix reversed losses of over 3% in early trade to close 1.4% up.