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- Trump Tariffs Live Updates: Trump says will announce semiconductor tariffs 'over the next week'
Trump Tariffs Live Updates: Trump says will announce semiconductor tariffs 'over the next week'
China reacted to tariff exemption on consumer electronics by the US calling it a "small step".
President Donald Trump on Friday defended his tariff policy, declaring it was "doing really well" even as China escalated the trade war by raising tariffs on US goods to as high as 125 percent.
The Chinese move rattled global financial markets, triggering a sharp selloff in US government bonds, a slide in the dollar, and volatile swings in stock prices. The latest retaliatory measures from Beijing deepened investor anxiety already stoked by Trump's surprise announcement of sweeping tariffs on dozens of US trade partners the previous week.
Trump Tariffs Live Updates: Democrats criticize Trump's tariffs, but not necessarily tariffs
As Democrats respond to the policies of the second Trump administration, they are finding it difficult to present a clear position on tariffs. Many are navigating carefully due to the fast-changing nature of President Donald Trump's trade decisions.
Most Democrats have called Trump’s shifting trade actions “chaotic?and “reckless,?but there is no strong agreement within the party on whether to support tariffs as a general policy.
This lack of unity was evident on Sunday, when Democratic lawmakers were questioned on news programs about whether opposing Trump’s tariffs while supporting tariffs in principle was a consistent position.
Senator Cory Booker, D-N.J., when asked by NBC’s Kristen Welker, criticized Trump’s trade strategy but did not comment directly on whether his party’s broader response was appropriate. Welker noted that former President Joe Biden had kept and even extended some of Trump’s earlier tariffs, which had received support from some progressive Democrats.
"I just want to, for myself, tell you a full-throated, unequivocal condemnation of the Trump tariffs," Booker said, arguing that the trade measures had disrupted the economy and hurt Americans?savings. "It is all just wrong. It should be condemned."
Trump Tariffs Live Updates: Donald Trump warns no country 'off the hook' on tariffs
US President Donald Trump said on Sunday that no country would be "getting off the hook" when it comes to tariffs, while his administration indicated that any exemptions—especially those seen as benefiting China—would not last long.
The United States and China, the world's two largest economies, have been engaged in a rapid and intense exchange of trade measures since Trump began imposing global tariffs, with a strong focus on Chinese goods.
As a result of these back-and-forth actions, US tariffs on Chinese imports have climbed to 145 per cent, while China has responded with its own tariffs of up to 125 per cent on US products.
"At present, China's exports are facing a complex and severe external situation, but 'the sky will not fall'," the spokesperson said, news agency Reuters. He also stated that China is "actively building a diversified market, deepening cooperation with all parties in the supply chain," and added, "Importantly, China's domestic demand market is broad."
Trump Tariffs Live Updates: Trump says will announce semiconductor tariffs 'over the next week'
On Sunday, US President Donald Trump stated that he plans to unveil new tariffs on semiconductors within the coming week, as part of his ongoing effort to tackle trade imbalances through targeted duties. "The tariffs will be implemented in the near future," he said, referring to the proposed semiconductor-specific measures, which would follow earlier tariffs on steel, aluminum, and automobiles. When asked about the specific rate for semiconductors, Trump responded, "I'll be announcing it over the next week."
Donald Trump on Sunday doubled down on his hardline trade stance, declaring that no country ?especially China ?would be spared from his sweeping tariff agenda.
Trump, in a post on social media rejected claims that his administration had granted tariff exemptions to certain tech products, saying, “NOBODY is getting ‘off the hook?for the unfair Trade Balances?especially not China which, by far, treats us the worst!?br/>
“There was no Tariff ‘exception?announced on Friday. These products are subject to the existing 20% Fentanyl Tariffs, and they are just moving to a different Tariff ‘bucket.?The Fake News knows this, but refuses to report it,?Trump wrote, referencing media reports suggesting exemptions for electronics like smartphones and semiconductors.
Trump says chips from China will face national security probe; further tariffs expected
Trump tariff effect: India's electronic exports to be 20% cheaper than China in US, says ICEA
Indian exports of smartphones, laptops and other electronics to the US are expected to become 20% cheaper as compared to those from China, after the Trump administration removed tariffs on a range of consumer electronics, industry body ICEA said on Sunday.
The move, announced over the weekend, is seen as a major boost for India’s rapidly growing electronics manufacturing sector. The US decided to exempt smartphones, tablets, laptops, flat-panel monitors and certain semiconductor components from the reciprocal tariffs imposed earlier on countries like China, India, and Vietnam.
The exemption implies that India and Vietnam now enjoy a major tariff advantage over China in exporting these products to the US.“China still has 20 per cent of iPhones, laptops, tablets, and watches. Only reciprocal tariff has been removed for China. India has zero tariff on iPhones and all smartphones, laptops and tablets exported to the US. Vietnam also has zero tariff on all Samsung and other smartphones, laptops and tablets exported to the US. So India and Vietnam are similarly placed on tariffs on these products and both enjoy a 20 per cent tariff advantage over China,?said Pankaj Mohindroo, chairman of the India cellular and electronics association (ICEA).
US President Donald Trump and Chinese President Xi Jinping currently have no plans to hold talks amid an intensifying trade war, confirmed trade representative Jamieson Greer during an appearance on CBS News?“Face the Nation?on Sunday.
Greer said the issue now rests "at the leaders' level" and that any future engagement would occur only “at some point,?as President Trump has suggested.
Trump's commerce secretary says new electronics tariff exemptions are temporary, chip tariffs coming
Tariff exemptions on electronics such as smartphones and laptops are only temporary, US Commerce Secretary Howard Lutnick said Sunday. He added that the Trump administration is working on a new tariff strategy focused on the semiconductor industry.
White House officials, including President Donald Trump himself, spent Sunday downplaying the significance of exemptions that lessen but won't eliminate the effect of US tariffs on imports of popular consumer devices and their key components.
“They’re exempt from the reciprocal tariffs but they’re included in the semiconductor tariffs, which are coming in probably a month or two,?Lutnick told ABC's “This Week?on Sunday.
The United States and China, the world's two largest economies, have been engaged in a rapid and intense exchange of trade measures since Trump began imposing global tariffs, with a strong focus on Chinese goods.
As a result of these back-and-forth actions, US tariffs on Chinese imports have climbed to 145 per cent, while China has responded with its own tariffs of up to 125 per cent on US products.
