President Donald Trump announced that he would be revealing the tariff rate on imported semiconductors in the upcoming week, with some flexibility for certain companies. This suggests that smartphones and computers may not remain exempt from tariffs for long. A national security trade investigation into the semiconductor sector was also announced by Trump. The exclusion of tech products from steep reciprocal tariffs on China was short-lived, as new duties on critical technology products from China, as well as semiconductors, are expected within the next two months.
The back-and-forth on tariffs has caused significant fluctuations in the stock market. China has responded by increasing tariffs on U.S. imports, while Trump’s commerce secretary indicated that sector-specific tariffs, including those on electronics products, will be implemented soon. Billionaire investor Bill Ackman called for a temporary pause on the broad reciprocal tariffs on China to allow businesses to relocate supply chains without disruption.
Critics, including U.S. Senator Elizabeth Warren, have slammed the tariff policy as chaotic and corrupt. Amid the uncertainty created by the tariffs, some have called for better communication and a more stable approach to trade negotiations. The situation has raised concerns about the potential impact on economic growth and the risk of recession if the tariffs are not handled properly.
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