Trump plans 100% tariff on semiconductors, with big exemption

I would argue that a mercantilist approach, where we encourage and lower barriers to importing low-value raw materials like crude oil, metals, etc. and then use those to make high-value-add materials like industrial machines, computers, cars, etc, and then protect those with tariffs makes a ton of sense. Trump doesn't usually seem to draw any distinction[1] between manufacturing inputs (such as chips) and manufacturing outputs (such as cars). Why? The raw materials are not high-margin, and the jobs and GDP involved in many of these inputs are miniscule numbers compared to what having ample supply of inputs does for businesses.

Anyway, this confusing and vague announcement could, in some way, theoretically point toward that kind of approach. But semiconductors are a stupid thing to tariff given how we just can't make the most advanced ones here, won't be able to for a long time, and we need them.

[1] as an example, I recall a story where the single company that domestically processes aluminum in some way was given a huge windfall when Trump imposed tariffs on aluminum during his first term, "saving" the 150 jobs or whatever, while like tripling the cost of aluminum for industries employing 5,000,000 workers.