President Donald Trump is eyeing a “25% or higher” tariff across all semiconductor chips the United States imports, with rates likely to “go very substantially higher over a course of a year,” he told reporters on Tuesday.

Canada supplies roughly 60% to 70% of the imports that come into the U.S. market. Canadian suppliers like Rio Tinto produce high quality aluminum that is typically sold to stateside buyers.

US President Donald Trump’s tariffs on aluminum and steel are motivated mostly by concerns that China is flooding the global market and harming US manufacturing, said a former trade adviser to the White House.

In a move termed as trade tsunami, set to upend international trade dynamics, President Donald Trump has declared an aggressive plan to impose reciprocal tariffs on India and other nations he accuses of exploiting the United States with exorbitant duties.