• Trump said a Tawainese company investing $100B in US chip manufacturing
• Announcement just a way to distract from ‘craziness’ of tariffs, CEO says
• Mexico, Canada to be hit with 25 percent tariffs starting Tuesday
• Trump said a Tawainese company investing $100B in US chip manufacturing
• Announcement just a way to distract from ‘craziness’ of tariffs, CEO says
• Mexico, Canada to be hit with 25 percent tariffs starting Tuesday

President Trump’s announcement Monday that a Taiwanese company is investing $100 billion in chip manufacturing is “great news,” but it also serves as a “distraction from all the craziness going on” in the White House, according to Powerteam International CEO Bill Walsh.

The $100 billion promised is on top of a previous $65 billion investment from the company under the Biden administration.

This craziness, Walsh told “NewsNation Now,” includes what’s happening with President Trump’s tariffs on Canada, China and Mexico, which went into effect Tuesday, and the war in Ukraine.

“(It’s like) you see what’s happening here? But wait a second, look over here,” Walsh said.

Tariffs, in particular, Walsh said, are going to be an “expensive game to play.”

Taking questions from reporters Monday, Trump said there was no way for Mexico and Canada to prevent the 25 percent tariffs from being levied on goods imported into the U.S. from their respective countries.

Many economists say the steep tariffs on trading partners will increase inflation and raise the price of goods for consumers already feeling stretched economically.

“The expense it’s going to have in the auto market, for sure, is going to be a killer for the U.S.,” Walsh said.

At the same time, “if the threat works to bring real manufacturing jobs back here, and they can actually make them on par, I’d love to see the manufacturing back here versus over somewhere else,” he added.

Reporting by Steph Whiteside contributed to this report.

Tags Canada China chip manufacturing Donald Trump Mexico NewsNation Powerteam International Taiwan Trump administration Trump tariff threats venture capital

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