Those electronics “are just moving to a different Tariff ‘bucket,‘” Trump said in a social media post. “We are taking a look at Semiconductors and the WHOLE ELECTRONICS SUPPLY CHAIN in the upcoming National Security Tariff Investigations.”
Trump’s commerce secretary, Howard Lutnick, earlier on Sunday said that critical technology products from China would face separate new duties along with semiconductors within the next two months.
Trump’s back-and-forth on tariffs last week triggered the wildest swings on Wall Street since the COVID pandemic of 2020. The benchmark Standard & Poor’s 500 index is down more than 10% since Trump took office on January 20.
“He’s saying they’re exempt from the reciprocal tariffs, but they’re included in the semiconductor tariffs, which are coming in probably a month or two,“ Lutnick said in an interview on ABC’s “This Week,“ predicting that the levies would bring production of those products to the United States. “These are things that are national security, that we need to be made in America.”
“The bell on a tiger’s neck can only be untied by the person who tied it,“ China’s Ministry of Commerce said.
If Trump paused Chinese tariffs for 90 days and cut them to 10% temporarily, “he would achieve the same objective in causing U.S. businesses to relocate their supply chains from China without the disruption and risk,“ Ackman wrote on X.
Sven Henrich, founder and lead market strategist for NorthmanTrader, was harshly critical of how the tariff issue was being handled on Sunday. “Sentiment check: The biggest rally of the year would come on the day Lutnick gets fired,“ Henrich wrote on X. “I suggest the administration figures out who controls the message, whatever it is, as it changes every day. US business can’t plan or invest with the constant back and forth.”
“There is no tariff policy - only chaos and corruption,“ Warren said on ABC’s “This Week,“ speaking before Trump’s latest post on social media.
In an interview on NBC’s “Meet the Press,“ White House trade adviser Peter Navarro said the U.S. has opened an invitation to China to negotiate, but he criticized China’s connection to the lethal fentanyl supply chain and did not include it on a list of seven entities - the United Kingdom, the European Union, India, Japan, South Korea, Indonesia and Israel - with which he said the administration was in talks.
“My goal is to get meaningful deals before 90 days, and I think we’re going to be there with several countries in the next few weeks,“ Greer said.
“Right now we are at a decision-making point and very close to a recession,“ Dalio said on Sunday. “And I’m worried about something worse than a recession if this isn’t handled well.”
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