President Donald Trump began imposing higher import taxes on dozens of countries Thursday just as the economic fallout of his monthslong tariff threats has begun to cause visible damage to the U.S. economy.

The United States will impose a tariff of about 100% on semiconductor chips imported from countries not producing in America or planning to do so, President Donald Trump said.

President Trump's latest round of tariffs are now in effect, and the president is promising even more tariffs on countries that are helping to fuel Russia's war with Ukraine. Erica Brown reports from the White House.