U.S. President Donald Trump made it clear on Sunday that despite the recent suspension of certain taxes for 90 days, no country is “in a difficult situation”, although AFP Report.
He also underestimated the importance of the temporary exemption granted to certain Chinese-made technical products.
The market has been turbulent since Trump announced large tariffs on April 2. Despite the initial plunge of stocks, they partially recovered after the Trump administration introduced 90-day delays for the highest tariff rates. In this window, most countries will face 10% tariffs – except China responds with its own tariff hikes.
China and the United States have exchanged duties on selling taxes, raising tariffs on Chinese goods to 145%, and Beijing’s retaliation is 125%. Trump insists that unfair trade practices have led to U.S. trade deficits, although some tariffs have also reached U.S. operating surplus countries.
“No one will be out of the barriers for unfair trade balances, not monetary tariffs, and other countries have fought against us, especially China, which is by far the worst!” Trump wrote about the Truth Social.
Although the government granted exemptions to Chinese semiconductors and electronics on Friday amid consumer price concerns, Trump insisted that Sunday raised “no tariffs’ exceptions”. He clarified that the items still fall under different categories of tariff rates of 20%.
Reliefs can be short. Electronic devices exempted last week could soon be hit again by department-specific tariffs related to the Department of Defense. Trump said further details will arrive on Monday.
Commerce Secretary Howard Lutnick confirmed that semiconductor tariffs could be issued “within a month or two”, adding that drugs would also be out of the countdown.
Although Trump still wants to reach an agreement with China, Trade Representative Jamieson Greer told the country that “we have no plans”, namely the Trump-XI meeting.
Meanwhile, Chinese President Xi Jinping started his Southeast Asia tour this week, aiming to build links with regional manufacturing rights. Amid U.S. consumer confidence and investor uneasiness, the White House insists that tariff policies are forcing countries to get onto the table before the 90-day window is closed.
