Trump vowed to impose roughly 100% tariffs on semiconductors unless companies build in the U.S. Is it the latest installment of the “TACO” trade?

The president extended China’s tariff deadline, hours before a trade truce between Washington and Beijing was set to expire, and after an unprecedented chip deal.

The Trump administration’s potential deal with Nvidia over its chip exports is rankling conservative China hawks, who see it as a bad move for American national security and want a more muscular strategy of economic statecraft against Beijing.