Imposing a sudden and steep 50% tariff on imported microchips is a significant move with complex implications. Here's a detailed analysis of the likely causal chain of effects over the next two years:

1. **Immediate Impact on Companies:**
   - **Increased Costs:** Companies that rely heavily on microchips, such as computer manufacturers, automakers, and consumer electronics firms, will face significantly higher input costs. This is due to the 50% tariff adding to the expense of importing the necessary chips.
   - **Supply Chain Disruption:** The sudden tariff could disrupt supply chains, as companies may not have ready alternatives to replace imported microchips, leading to potential production delays and reductions in output.

2. **Subsequent Effects on Consumer Prices:**
   - **Higher Consumer Prices:** Manufacturers are likely to pass the increased costs onto consumers, resulting in higher prices for electronics, automobiles, and other goods reliant on microchips. This could lead to decreased demand, as consumers might delay purchases or opt for cheaper alternatives.
   - **Inflationary Pressure:** The hike in prices across significant sectors could contribute to higher inflation rates, affecting the broader economy and consumer purchasing power.

3. **Potential Response from Other Countries:**
   - **Trade Tensions:** The tariff may lead to strained trade relations, especially with countries that are major exporters of microchips. They might retaliate by imposing tariffs on imports from the government imposing the tariff, potentially leading to a trade war.
   - **Supply Chain Shifts:** Other nations may seek to capitalize on the situation by increasing their own microchip production or exporting to different markets, altering global supply chains.

4. **Medium-Term Impact on Domestic Employment:**
   - **Tech Sector Growth:** The tariff, aimed at boosting the domestic tech sector, could incentivize investment in local microchip manufacturing. Over time, this may lead to job creation as new plants and facilities are established. However, this transition may take considerable time due to the complexity and capital-intensive nature of chip manufacturing.
   - **Employment in Dependent Sectors:** Sectors that rely on imported chips might experience job losses or reduced growth due to increased production costs and decreased demand for their products. Companies may either downsize or seek cost-cutting measures to offset the higher prices.
   - **Skills Gap and Training Needs:** Expanding the domestic microchip sector may require a skilled workforce, necessitating government or private sector investment in training programs and education to support reskilling and workforce development.

Overall, while the imposition of the tariff might eventually stimulate the domestic technology industry's growth, the immediate repercussions could include increased consumer prices, strained international relations, and challenges for industries reliant on microchips. The government's role will be crucial in managing these effects through supportive policies, subsidies, and investments in education and infrastructure.