U.S. President Donald Trump said Thursday his administration will soon put a "fairly substantial tariff" on semiconductor imports from companies not shifting production to the United States.

Trump made the remarks to reporters during a dinner with chief executives of American tech companies at the White House, saying they will be imposing the tariff "very shortly," without giving an exact rate or time.

Trump said the tariff will not be that high, but "fairly substantial," adding there will be no tariffs for companies that come into the U.S. 

In early August, Trump said the United States would impose a tariff of about 100 percent on imports of semiconductors, but it would not apply to companies that are manufacturing in the U.S. or have committed to do so.