Actually its the opposite. In the long term it incentivizes manufacturing chips in the US. Domestic manufacturing has bipartisan support (see Biden's CHIPS bill) and obvious nation security implications. That's not to say tariffs are the right solution but the end goal is good and uncontroversial.

It creates economic chaos in the short term because the supply of domestic chips is relatively low and the cost of foreign chips will increase dramatically. This will normalize over time as domestic production ramps up.