- US President Donald Trump made it clear on Sunday that no nation is “off the hook” regarding US tariffs, despite recent actions to temporarily pause certain levies for 90 days, according to AFP reports. He also minimized the significance of temporary exemptions granted for some Chinese-made technology products. Markets have been unstable since Trump announced broad tariffs on April 1. While stocks initially plummeted, they partially recovered after Trump’s administration implemented a 90-day delay for the highest tariff rates. During this period, most countries will face a 10 percent tariff, except for China, which responded with its own tariff increases. China and the US have exchanged retaliatory duties, pushing US tariffs on Chinese goods to 145 percent, with Beijing retaliating at a 125 percent level. Trump has maintained that unfair trade practices have led to US trade deficits, although some tariffs also affect nations where the US has surpluses. “NOBODY is getting ‘off the hook’ for the unfair Trade Balances, and Non Monetary Tariff Barriers, that other Countries have used against us, especially not China which, by far, treats us the worst!” Trump wrote on Truth Social. Although the administration granted exemptions on Friday for Chinese semiconductors and electronics amid concerns about consumer prices, Trump insisted on Sunday that “no Tariff ‘exception'” was given. He clarified that those items are still covered under a different category with a 20 percent tariff rate. This relief may be short-lived. Electronics exempted last week could soon face sector-specific tariffs related to national defense. Trump said further details would be released on Monday. Commerce Secretary Howard Lutnick confirmed that semiconductor tariffs would likely be enacted “in a month or two” and added that pharmaceutical products will also be excluded from the reciprocal tariffs. While Trump remains hopeful for a deal with China, Trade Representative Jamieson Greer stated on Face the Nation that “we don’t have any plans” for a Trump-Xi meeting yet. Meanwhile, Chinese President Xi Jinping is beginning a Southeast Asia tour this week, aiming to strengthen ties with regional manufacturing powers. Amid declining US consumer confidence and investor anxiety, the White House insists that the tariff policy is forcing countries to the negotiating table before the 90-day window closes.
