Trump to announce semiconductor tariffs next week, denies tariff rollback on electronic items

In a post on Truth Social, Trump said “We are taking a look at Semiconductors and the WHOLE ELECTRONICS SUPPLY CHAIN in the upcoming National Security Tariff Investigations.”

Since the White House announced the exclusion of some electronic items from the reciprocal tariff of President Trump which are largely imported from China, the share market has shown a green trend with Japan, Australia, South Korea reporting a surge in tech stocks.

Taiwan tech supply chain stocks, along with China and Hong Kong’s share market rallied after a tariff relief announcement by White House which could be short-lived.

US Commerce Secretary Howard Lutnick said on Sunday that critical technology products from China would be taxed in separate new duties along with semiconductors.

During an interview with ABC News, Lutnick said “He’s (Trump) 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,” Reuters reported.

On Friday, Beijing hit back at the US after it increased tariffs on US imports to 125% in response to Trump’s reciprocal tariff of 145%.

China’s Commerce Ministry, in a statement had said, “The bell on a tiger’s neck can only be untied by the person who tied it.”