The US president says there are no tariff exemptions for electronic items, but that they fall under a separate category.
US President Donald Trump has stated that there are no tariff exemptions for electronic products, categorizing them separately, despite some earlier indications suggesting otherwise.
In a recent development in the ongoing global trade disputes, Trump clarified on Sunday that electronic items such as smartphones and laptops would still be subject to a 20 percent tariff, emphasizing that there were no exceptions. He stressed that the US would not be swayed by other countries, especially China, which is a major player in the electronics export market.
Specific details regarding these tariffs are expected to be released by Monday, with the US Commerce Secretary suggesting that semiconductor tariffs could be implemented within the next couple of months.
Additionally, Trump mentioned that pharmaceutical products would not be subject to reciprocal tariffs, a term used by the administration to address trade imbalances.
The escalating trade tensions between the US and China have seen tariff rates increase on both sides, creating a challenging situation for businesses and consumers in both countries.
While China initially viewed the exemptions positively, urging the complete cancellation of tariffs, Trump’s latest statements indicate a continuation of the trade conflicts between the two economic giants.
Despite the uncertainties in the trade landscape, the White House remains hopeful about reaching a resolution with China, although the onus seems to be on Beijing to initiate further discussions.
