President Trump announced that the tariff rate on imported semiconductors will be revealed in the next week, with some flexibility for certain companies in the sector. This decision most likely means that smartphones and computers will no longer be excluded from reciprocal tariffs on China. A national security trade probe into the semiconductor industry was announced as well. Trump’s back-and-forth on tariffs has caused market volatility, with S&P 500 index down more than 10% since he took office. His commerce secretary clarified that critical technology products from China would face new duties along with semiconductors in the coming months. Beijing has responded to increased tariffs on U.S. imports. Billionaire investor Bill Ackman has called on Trump to pause tariffs on China for three months. Critics like U.S. Senator Elizabeth Warren have condemned the tariff plan for causing chaos and corruption. The U.S. has invited China to negotiate, but tensions remain high. Overall, there is concern about the potential negative impact of tariffs on the economy, with warnings that the U.S. could slide into a recession if not handled properly.
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