US President Donald Trump seems to have no rest as he again dropped a bombshell. On Sunday, Trump announced that no country would be getting "off the hook" regarding tariffs, even though there is a 90-day pause on some of them.
The statement comes after days of the United States publishing guidance saying smartphones, computers, and other electronics were exempted from 'reciprocal tariffs.' In addition, Trump on Friday issued exemptions for Chinese-made semiconductors and electronics.
This announcement comes amid the warnings that US consumers faced skyrocketing prices for products including laptops and smartphones. Additionally, the president on Sunday noted that there was 'no tariff exception.'
Donald Trump not only announced the 'no tariff exception' but also played down any special treatment for Chinese tech products.
In the whole scenario, most countries will now face a baseline of 10 per cent tariff for the near-three-month time, excluding China, which launched a tit-for-tat escalation. The exchanges have seen US levies imposed on China rise to 145 per cent, and Beijing set a retaliatory 125 per cent tariff on US imports.
"The Fake News knows this but refuses to report it. We are taking a look at semiconductors and the WHOLE ELECTRONICS SUPPLY CHAIN in the upcoming National Security Tariff Investigations," read Donald Trump's post.?
The deals are negotiable in the Trump administration, including with China, but it is not clear yet what terms Donald Trump would be willing to accept.
For instance, on Friday, Beijing's Commerce Ministry had said that the move only "represents a small step," and it stressed that Donald Trump's administration should "completely cancel" the whole tariff plan.
While the White House says that Trump remains positive about saving a deal with China, however, the US officials have made it clear that they expect Beijing to reach out first.?