Trump to announce semiconductor tariffs next week, denies tariff rollback on electronic items | World News
US President Donald Trump has said that imported semiconductor chips will face tariffs next week, as he clarified that the exclusion of smartphones and computers from the tariffs which are imported from China will be short-lived, pledging a national security trade investigation into the semiconductor sector.
Detailing about the exclusion of electronic items from China, Trump said that “those electronic items are moving to different tariff buckets.”
In a post on Truth Social, Trump said “We are taking a look at Semiconductors and the WHOLE ELECTRONICS SUPPLY CHAIN in the upcoming National Security Tariff Investigations.”
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Since the White House announced the exclusion of some electronic items from the reciprocal tariff of President Trump which are largely imported from China, the share market has shown a green trend with Japan, Australia, South Korea reporting a surge in tech stocks.
Taiwan tech supply chain stocks, along with China and Hong Kong’s share market rallied after a tariff relief announcement White House which could be short-lived.
US Commerce Secretary Howard Lutnick said on Sunday that critical technology products from China would be taxed in separate new duties along with semiconductors.
During an interview with ABC News, Lutnick said “He’s (Trump) saying they’re exempt from the reciprocal tariffs, but they’re included in the semiconductor tariffs, which are coming in probably a month or two,” Reuters reported.Story continues below this ad
On Friday, Beijing hit back at the US after it increased tariffs on US imports to 125% in response to Trump’s reciprocal tariff of 145%.
China’s Commerce Minry, in a statement had said, “The bell on a tiger’s neck can only be untied the person who tied it.”
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