Trump: To provide more info on chips tariffs on Monday

Trump: To provide more info on chips tariffs on Monday

# Title: Trump to Provide Update on Chips Tariffs on Monday

U.S. President Donald Trump has announced that he will provide an update on his administration's approach to semiconductor tariffs on Monday. This comes after a weekend of intense negotiations and exemptions to the sweeping tariffs imposed on Chinese goods.

On Saturday, Trump told reporters aboard Air Force One that he would provide the update on Monday. The White House has indicated that the exemptions to the tariffs will include smartphones, computers, and semiconductors, which are critical components for many electronic devices. These exemptions come after the Trump administration imposed a minimum tariff rate of 145% on Chinese goods imported to the United States.

The exemption of these electronic goods is seen as a major relief for tech giants like Apple, which manufacture many of their products in China. Analysts at Wedbush have called this the "best news possible for tech investors." They noted that the exemption would have a significant impact on the tech industry, particularly for companies that rely heavily on Chinese manufacturing for their products.

The White House has also emphasized that the exemptions are part of a broader strategy to encourage tech companies to move production to the United States. The administration has secured trillions of dollars in U.S. investments from tech giants like Apple, Taiwan Semiconductor Manufacturing Company (TSMC), and Nvidia. These companies are being urged to onshore their manufacturing as soon as possible.

China has responded to the escalating tariffs by raising its duties on imports of U.S. goods to 125%. This countermeasure comes into effect on Saturday and further intensifies the ongoing US-China trade war. The trade conflict has weighed on investor sentiment, even as Trump instituted a 90-day pause on steep Liberation Day tariffs and the EU matched a US pause on retaliatory duties.

The Trump administration has warned Chinese officials against retaliation before the measures were announced. Despite this, Beijing hinted it would not engage in further tariff hikes, even if Washington continues its escalations. The White House clarified on Thursday that U.S. tariffs on Chinese imports are now at least 145%, not the 125% that Trump had said previously.

The exemptions to the tariffs on electronic goods are expected to ease the blow for consumers and boost the electronics industry. However, the long-term impact of these tariffs remains uncertain, and economists have warned that the costs may ultimately be passed on to the consumer. The Trump administration, however, maintains that the tariffs will bring more manufacturing jobs to the United States and reverse a decades-long decline in domestic manufacturing.

As the policy reverberates around the world, investors and financial professionals will be closely watching Trump's update on Monday to gain more clarity on the administration's approach to semiconductor tariffs.