Trump threatens new tariffs on smartphones days after exempting them
Donald Trump says Chinese-made smartphones and other electronics will not be exempt from tariffs – adding they are simply moving into a different levy “bucket”.
European stock markets bounced up on Monday morning after Friday’s official announcement that some of these products would escape levies of up to 145%.
China has called on Donald Trump to “completely cancel” his tariffs regime, and “return to the right path of mutual respect”.
However US officials said on Sunday that products would be subject to a “semiconductor tariff” instead, with Trump expected to reveal more details later.
US Commerce Secretary Howard Lutnick said the new levy would be in addition to a host of global tariffs the US imposed earlier this month, then paused for 90 days.
Source: BBC | Language: English