US President Donald Trump signs an executive order to increase tariffs, flanked by Commerce Secretary Howard Lutnick: Reuters
The US is preparing to impose new duties on smartphones, computers and semiconductors from China. This was announced by Commerce Secretary Howard Lutnick on ABC’s This Week programme, Reuters reports . According to Lutnick, these products, which have only recently been exempted from tariffs, will be subject to separate taxation over the next one to two months.
This is a new type of tariff that is not included in the list of so-called “reciprocal duties” imposed by the Donald Trump administration. At the same time, Lutnick stressed that the introduction of tariffs is aimed at bringing back strategically important production to the United States, including electronics and chips, which are critical to national security.
Last week, the US Customs and Border Protection announced a temporary tariff exemption for a number of technology products, including smartphones, laptops, semiconductors and memory chips. This decision was seen as a relief for companies such as Apple, Dell Technologies and Nvidia, which are heavily dependent on imports from China. However, this Sunday, China called on the US to reverse the tariff policy, calling Washington’s move just a “small gesture”.
The tariffs imposed by Trump have already led to serious fluctuations in financial markets: the S&P 500 index has fallen by more than 10% since Trump returned to power. Billionaire Bill Ackman, who supported Trump, called for a temporary suspension of the duties, warning of risks to US business and the economy. Ray Dalio, founder of the Bridgewater hedge fund, also expressed concern, warning of a high probability of a recession or even a deeper economic crisis if the trade confrontation escalates further.
The White House said that the new tariff initiative would be accompanied by negotiations with allies, including the EU, Japan, India, and Israel. China has already raised its own tariffs on imports from the US by up to 125%, accusing Washington of escalating the conflict. Negotiations between the leaders of the two countries are not currently planned.
