Trump says new tariffs on Chinese electronics, semiconductors coming soon
What's the story
US President Donald Trump has announced that the current exemption of tariffs on Chinese electronics is "temporary."
Speaking to reporters aboard Air Force One, he said that no products were exempt from tariffs, stating that smartphones, laptops, and other electronics from China still faced a 20% duty.
He added that these items were simply being reassigned to a different tariff category.
Trump also said he would announce new tariffs on semiconductors this week.
Upcoming announcement
Trump to provide details on semiconductor tariffs
Trump has promised to give "very specific" details about future semiconductor tariffs.
He said, "We'll be very specific on Monday. We're taking in a lot of money; as a country, we're taking in a lot of money."
This comes after the US White House announced some exemptions from steep reciprocal tariffs, which was a major relief for tech giants like Apple and Dell that heavily depend on Chinese imports.
Tariff updates
Commerce Secretary announces new duties on Chinese technology
US Commerce Secretary Howard Lutnick revealed that critical technology products and semiconductors from China will face "separate" new duties within the next two months.
These would be different from the "reciprocal tariffs" Trump announced earlier, including total 125% duties imposed on China last week.
Lutnick said, "All those products are going to come under semiconductors, and they're going to have a special focus-type of tariff to make sure that those products get reshored."
Trade stance
Trump emphasizes no country will escape unfair trade balances
On his social media platform Truth Social, Trump stressed no country would be spared from the repercussions of "unfair trade balances, and non monetary tariff barriers."
He particularly called out China as a country that treats the US "the worst."
Despite recent exemptions, both White House officials and Trump played them down.
This comes after Asian stock markets cheered Trump's temporary halt on tariffs on electronics.