Key Takeaways Chip stocks advanced Thursday after President Donald Trump said companies that commit to manufacturing in the U.S. will be exempt from 100% tariffs on imported semiconductors.Trump's announcement was light on details about how the tariffs and exemptions would work,

Under an executive order signed by Trump last week, US import duties have jumped from 10 percent to between 15 and 41 percent across a range of countries.

Trump threatens steep tariffs on imported chips, urging tech firms to shift production to the US, sparking global supply chain concerns.