Taking a dig at US’ economic rivals, US President Donald Trump on Sunday said that no country, including China, would be getting ‘off the hook’ on tariffs, even though some electronic goods were given a temporary exemption. He made it clear that the relief is short-term and the trade fight with China is far from over.
“There was no Tariff ‘exception’ announced on Friday,” Trump said in a social media post on his platform Truth Social. “These products are subject to the existing 20 per cent Fentanyl Tariffs, and they are just moving to a different Tariff 'bucket,” Trump wrote.
Trump’s statement came after the US Customs and Border Protection said smartphones, laptops, and other electronics from China would not be included in the recent 145 per cent reciprocal tariffs. The change was welcomed by US tech giants like Apple, Microsoft and others, which had feared the high tariffs would raise prices for customers.
New tariff rates on semiconductors next week?
The US President also announced on Sunday (local time) that he plans to reveal the tariff rate on imported semiconductors within the coming week. He also indicated there may be flexibility for certain companies in the sector.