President Donald Trump announced that he will be revealing the tariff rate on imported semiconductors in the coming week, with some flexibility for certain companies in the sector. This decision suggests that smartphones and computers may no longer be exempt from reciprocal tariffs on China as Trump aims to boost domestic production of chips and semiconductors. Howard Lutnick, Trump’s commerce secretary, clarified that critical technology products from China, including semiconductors, will face separate new duties within the next two months. This back-and-forth on tariffs has caused instability in the markets, with Wall Street experiencing significant fluctuations. China has responded by increasing tariffs on U.S. imports, while also evaluating the impact of the exclusions for technology products. Billionaire investor Bill Ackman has called on Trump to pause the tariffs on China for three months to avoid disruption and risks. U.S. Senator Elizabeth Warren criticized the tariff chaos, warning of potential economic impacts. Despite the uncertainty, White House trade adviser Peter Navarro stated that the U.S. is open to negotiation with China, while Trade Representative Jamieson Greer expressed hopes for deals with non-Chinese countries in the coming weeks. Billionaire hedge fund founder Ray Dalio expressed concerns about the U.S. potentially sliding into a recession due to the tariffs, highlighting the importance of careful handling of the situation.
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