President Trump has said his import taxes would revive manufacturing in the U.S. So far, that hasn’t happened. The effective average tariff on imports now stands at roughly 18%, the highest levels since the 1930s.

U.S. President Donald Trump said Wednesday he plans to impose a 100% tariff on semiconductor imports, with an exemption for companies that manufacture or commit to manufacturing in the U.S. The announcement came as Apple (NASDAQ:AAPL) CEO Tim Cook joined the president in the Oval Office to unveil an additional $100 billion in the U.