Global markets are facing renewed uncertainty following President Donald Trump’s latest comments on tariffs, following a post he wrote to his Truth Social account on Sunday.
Trump administration officials clarified that the exemptions granted for electronic products on Friday are only temporary, with new tariff rates expected to be announced as early as Monday.
Officials also stated that separate tariffs will be imposed on items such as laptops and smartphones, citing national security concerns. President Trump is also expected to introduce a special tariff on semiconductors, underscoring his push to shift the electronics supply chain back to the United States.
“NOBODY is getting ‘off the hook’ for the unfair trade balances,” Trump posted Sunday evening. “There was no tariff ‘exception’ announced on Friday.” He noted further that his administration would be “taking a look at Semiconductors and the WHOLE ELECTRONICS SUPPLY CHAIN” in an upcoming probe into national security and tariffs.
During last week’s turbulent stretch for international markets and companies, Trump raised tariffs on Chinese imports to 145 percent while reducing them to 10 percent for most other countries. Late Friday, his administration released a list of exemptions to the steep China tariff rate, offering a temporary reprieve to major U.S. firms like Apple and Nvidia, which were facing significant disruption, The Times of London reported.
However, by Sunday, Trump’s advisers clarified that a 20 percent tariff on Chinese electronics related to illicit fentanyl production remained in effect. They also confirmed that the president plans to introduce a new tariff specifically targeting semiconductors.