Trump admin updates: US military is preparing for possible activation of National Guard in DC

Trump announced that there will be a 100% tariff on computer chips and semiconductors manufactured outside of the United States.

But his announcement comes with an important exception: companies committed to manufacturing in the U.S. won't be subject to the high duties, he said, softening the blow for some firms working to onshore manufacturing.

“So, 100% tariff on all chips and semiconductors coming into the United States. But if you've made a commitment to build or if you're in the process of building as many are, there is no tariff,” Trump said.

The tariff will likely increase the cost of electronics, automobiles and appliances, among other household essentials.

-ABC News' Michelle Stoddart

Vice President JD Vance denied reports that he was meeting with top administration officials for a strategy session as the administration considers whether to release the Justice Department's interview with Ghislaine Maxwell.

"I saw it reported today, and it's completely fake news," Vance said during an appearance in the Oval Office with President Donald Trump.

Trump called the report "b-------" and a "hoax." The president also said that Deputy Attorney General Todd Blanche did not brief him on the Maxwell interview.

Trump was asked about Health and Human Services Secretary Robert F. Kennedy's decision to end federal funding for mNRA vaccine research despite it being a cornerstone of the president's "Operation Warp Speed" initiative that helped develop COVID-19 vaccines in his first term.

"You know, that was, now a long time ago," he said of "Operation Warp Speed," adding, "And we're on to other things."

Trump said that a meeting between Ukrainian President Volodymyr Zelenskyy and Russian President Vladimir Putin is likely going to happen soon but he dodged a question about whether a peace deal will be close.

Instead, he spoke about his foreign policy moves, such as the military strike on Iran. The president brought up a model of the new stealth bomber to demonstrate that event.