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Honda said it has cut or suspended production this week at some plants in North America as a countermeasure to the chip shortage, which stems from China blocking Nexperia from exporting products.

Europe’s auto industry is preparing for production disruption within days because of China’s export restrictions on semiconductors made by Nexperia. The U.S. is likely to be affected too.

The project, dubbed Ohio One, “remains an important part of our long-term plans to expand leading-edge manufacturing on U.S. soil,” Intel said in a statement.

The Ministry of Commerce announced an antidumping probe into certain analog IC chips imported from the U.S. and an antidiscrimination probe into U.S. measures against China’s chip sector.

The president has repeatedly promised that levies on chips and pharmaceuticals are coming within weeks, but no formal announcements have yet been made.

Applied Materials plunged in late trading after giving a disappointing sales and profit forecast, renewing concerns that the U.S. trade dispute with China is weighing on demand.

The Trump administration had frozen the sale of some advanced chips to China earlier this year as trade tensions spiked between the world’s two largest economies.

“The real question everybody in the industry is asking is whether there will be a component tariff, where the chips in a device would require some sort of separate tariff calculation.”

Nvidia CEO Jensen Huang’s visit came hours before another tech leader — Apple CEO Tim Cook — was set to announce a commitment for $100 billion in fresh domestic manufacturing investments.

The agreement runs through 2033 and includes an upcoming plant in Taylor, Texas, to produce Tesla's next-generation AI6 chip.