President Donald Trump announced that he would be unveiling the tariff rate on imported semiconductors within the next week, with some flexibility for certain companies in the sector. This decision indicates that smartphones and computers may no longer be exempt from reciprocal tariffs on China as Trump focuses on resetting the trade in the semiconductor industry. Earlier in the day, Trump launched a national security trade probe into the semiconductor sector. Despite the initial hope that everyday consumer products such as phones and laptops would remain affordable, Trump’s commerce secretary clarified that critical technology products from China would face separate tariffs along with semiconductors in the near future. The back-and-forth on tariffs last week created major fluctuations on Wall Street and led to concerns about a potential recession. Chinese tariffs on U.S. imports have also increased in response to the escalating trade tensions. Some experts, including billionaire investor Bill Ackman, have called for a temporary pause on the tariffs to avoid disruptions in the supply chain. The overall uncertainty and constant changes in the tariff policies have raised concerns among U.S. businesses and critics of the administration’s approach. White House trade adviser Peter Navarro mentioned that the U.S. is open to negotiating with China but criticized their connection to the fentanyl supply chain. Despite hopes for meaningful deals with other countries, concerns about economic repercussions and the risk of a recession persist due to the ongoing tariff disputes.
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