US President Trump clarifies 20% tariffs on Chinese imports of semiconductors, electronics
Late Sunday, US President Donald Trump took to his own social media application, Truth Social, and clarified that there will be no tariff exemption on semiconductors and the electronics supply chain, as these products will be subject to the existing 20% tariffs on fentanyl and not the 145% hike.
This comes after the US Customs and Border Protection issued a guidance late Friday stating certain items like smartphones, laptops, hard drives, flat-panel monitors, semiconductors etc would be exempted from both Trump’s 10% baseline reciprocal tariffs and the 145% tariffs on Chinese imports.
However, US Commerce Secretary Howard Lutnick said in an ABC News interview on Sunday that smartphones, computers and some other electronics, just exempted from steep tariffs on imports from China, would face separate new levies along with semiconductors within the next two months.
Lutnick added that he is “not concerned about the US Dollar. “
Meanwhile, US Trade Representative (USTR) Jamieson Greer told CBS News on Sunday that President Trump and Chinese President Xi Jinping "don't have any plans" to speak amid an escalating trade war between the two countries.
“We have to be much more deliberate about the semiconductor supply chain,” he said on the latest tariff talks on electronics and semiconductors.
* The content presented above, whether from a third party or not, is considered as general advice only. This article should not be construed as containing investment advice, investment recommendations, an offer of or solicitation for any transactions in financial instruments.
