President Donald Trump of the United States on Sunday said he would be announcing the tariff rate on imported semiconductors over the next week.
He added that there would be flexibility with some companies in the sector.
Trump said this while speaking with reporters aboard Air Force One as he traveled back to Washington from his estate in West Palm Beach.
DAILY POST reports that the president's pledge means that the exclusion of smartphones and computers from his reciprocal tariffs on China likely will be short-lived as he looks to reset trade in the semiconductor sector.
“We wanted to uncomplicate it from a lot of other companies, because we want to make our chips and semiconductors and other things in our country,” he said.
The president, however, declined to say whether some products such as smartphones might still end up being exempted.
Trump, earlier in the day, announced a national security trade probe into the semiconductor sector.
“We are taking a look at Semiconductors and the WHOLE ELECTRONICS SUPPLY CHAIN in the upcoming National Security Tariff Investigations,” he posted on social media.
On Friday, the White House had announced the exclusions from steep reciprocal tariffs, creating some hope that the tech industry might escape being ensnared in the escalating conflict between the two nations and that everyday consumer products such as phones and laptops would remain affordable.
However, Trump's commerce secretary, Howard Lutnick, earlier on Sunday made clear that critical technology products from China would face separate new duties along with semiconductors within the next two months.
Trump's back-and-forth on tariffs last week triggered the wildest swings on Wall Street since the COVID pandemic of 2020.
