Commerce Secretary Howard Lutnick said Sunday that the administration's decision Friday night to exempt a range of electronic devices from tariffs implemented earlier this month was only a temporary reprieve, with the secretary announcing that those items would be subject to "semiconductor tariffs" that will likely come in "a month or two."
He continued, "So what [President Donald Trump's] doing is he's 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. So these are coming soon."
The administration's clarification comes after a U.S. Customs and Border Protection bulletin was posted Friday night outlining key electronics — smartphones, computers, solar cells, flat-panel TV displays and semiconductor-based storage devices, among others — would be exempt from the tariffs announced since April 2. That meant those products would not be subject to steep tariffs on Chinese imports, nor the global 10% tariff rate President Donald Trump had imposed.
Lutnick said on "This Week" that the White House will implement "a tariff model in order to encourage" the semiconductor industry, as well as the pharmaceutical industry, to move its business to the United States.
Posted by John3262005
7 Comments
Don’t think we can believe anything the administration says. They showed their asses this past week.
Ah, nice! More uncertainty!
JFC it’s like this guy was born to tank markets.
I hate Howard Glutnick
I am quite possibly confused, but I’m trying to follow our jackass import schedule as closely as I can, and I’m *pretty* sure Navarro was just on Meet The Press insisting that certain carve-outs could be permanent.
The summer GDP numbers are gonna be so bad. How do you even operate a business in this environment?
At least Great recession type unemployment numbers may help end MAGA long term…
Are you tired of winning yet?