The world’s two largest economies have been locked in a fast-moving, high-stakes game of brinkmanship since US President Trump launched a global tariff assault that particularly targeted Chinese imports.
The US side had appeared to dial down the pressure slightly on Friday, listing tariff exemptions for smartphones, laptops, semiconductors and other electronic products for which China is a major source.
In a post on his Truth Social platform, he said “Nobody is getting off the hook,“ adding: “We will not be held hostage by other Countries, especially hostile trading Nations like China.”
The new exemptions will benefit US tech companies like Nvidia and Dell as well as Apple, which makes iPhones and other premium products in China.
The relief could, however, be short-lived with some of the exempted consumer electronics targeted for upcoming sector-specific tariffs on goods deemed key to US national defense networks.
He said pharmaceutical products would “also be outside the reciprocal tariffs,“ using an administration term for tariffs aimed at bringing all US trade imbalances to zero.
China was excluded from the reprieve.
Trump’s trade representative Jamieson Greer told CBS “Face the Nation” on Sunday that “we don’t have any plans” for talks between the US president and his Chinese counterpart Xi Jinping.
China has sought to present itself as a stable alternative to an erratic Washington, courting countries spooked by the global economic storm.
The fallout from Trump’s tariffs -- and subsequent whiplash policy reversals -- has sent particular shockwaves through the US economy, with investors dumping government bonds, the dollar tumbling and consumer confidence plunging.
The White House insists the aggressive policy is bearing fruit, saying dozens of countries have already opened trade negotiations to secure a deal before the 90-day pause ends.
“We’re working around the clock, day and night, sharing paper, receiving offers and giving feedback to these countries,“ Greer told CBS.
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