“They needed an incentive. And the incentive is going to be they [do not want to] pay a 25%, 50% or even a 100% tax.”

They don’t pay the tax. US consumer pays. Tariffs gives them no incentive to change because there is no alternative to TSMC. It’s not a competitive market where Intel can immediately manufacture 5090’s for 25% less.

Oh good, let’s impose some tariffs before there is any alternative supply available. That will definitely keep prices down.

Duty-free stores will start selling all the electronics.