How big a financial hit would Apple and its Taiwanese chip making partner TSMC take if and when U.S. President Donald Trump's proposed tariffs take effect?

The Trump tariffs could financially hit Apple's chip production partnership with TSMC, after the President insisted the import taxes will be applied to semiconductors and other specific industries in the near future.

In TSMC’s case, this is in the form of a $12 billion semiconductor factor in Arizona, supporting by a $6.6 billion CHIPS Act subsidy won last year. Since then, the semiconductor giant has pledged to build two more facilities in Arizona, bringing the company’s total planned investment to around $65 billion.