President Donald Trump on Thursday said his administration would soon impose tariffs on semiconductor imports from companies that have not committed to shifting production to the United States.

'A Very Substantial Tariff' On Semiconductors

Ahead of the White House dinner with major tech CEOs, Trump said that he has been discussing these tariffs on chips and semiconductor imports with people. "We will be putting tariffs on companies that aren't coming in. We will be putting a tariff very shortly," he said, according to a Reuters report.

"We will be putting a very substantial tariff, not that high, but [a] fairly substantial tariff with the understanding that if they come into the country, if they are coming in, building, planning to come in, there will not be a tariff," Trump said, but "If they are not coming in, there is a tariff."

Since his return to office in January, Trump has made tariffs a central part of U.S. foreign and domestic policy, using them as a tool to pressure corporations and governments to invest domestically.

Domestic Supply Chain Taking Shape

A month ago, iPhone-maker Apple Inc. (AAPL  ) committed to investing $600 billion over four years as part of its "American Manufacturing Program," aimed at avoiding Trump's looming 100% tariffs on chips and semiconductors.

Similarly, Trump claimed that the Taiwan Semiconductor Manufacturing Co. Ltd. (TSM  ) was set to invest $300 billion in Arizona to build the world's biggest plant to make semiconductors. However, the company has officially committed to $160 billion in U.S. investments.

Dallas-based Texas Instruments Inc. (TXN  ) similarly announced a $60 billion initiative to expand its U.S. manufacturing, with plans to create over 60,000 jobs.

Early this week, the Trump administration revoked authorizations for Samsung Electronics Co. Ltd. (SSNLF  ) and SK Hynix Inc. (HXSCL  ) to receive American chip manufacturing equipment in China.