President Donald Trump on Tuesday warned that even more tariffs could be coming as soon as next week: This time China was his target, as Trump threatened to unleash a wave of higher taxes on imports from America’s second-biggest trading partner.

Though the United States is the global leader in designing chips, the vast majority of chip production happens overseas, particularly in U.S.-ally Taiwan.

If he follows through, it could raise prices on many day-to-day items as economists are almost unanimous that tariffs are passed on as consumer price increases.