This weekend has as soon as once more been dominated by news on President Donald Trump’s back-and-forth tariffs.
The revelation late Friday that key electronics, together with smartphones and semiconductors, would be exempt from Trump’s “reciprocal” tariffs spurred optimism for the US tech sector.
But Commerce Secretary Howard Lutnick added one other wrinkle at present by indicating the exemptions will probably be short-term, telling “ABC This Week” focused new tariffs will apply to electronics within the months to return.
Administration officers have been blended on tips on how to describe the exemptions at present, however emphasised that the administration will examine the nationwide safety implications of semiconductor imports earlier than doubtlessly imposing electronic-specific tariffs.
Here’s what we heard from different Trump officers:
• Kevin Hassett: At least 130 nations are negotiating potential commerce offers with the US following Trump’s 90-day pause on the “reciprocal” tariffs, the National Economic Council director advised NCS on “State of the Union.” He mentioned talks with Beijing, in the meantime, are within the very early levels, “if at all.”
• Peter Navarro: The White House senior commerce adviser didn’t say whether or not there have been new talks within the deepening trade war with China, although he added in an look on NBC’s “Meet the Press” that there’s an open invitation and Trump has a “good relationship” with Chinese chief Xi Jinping.
Meanwhile, criticism and concern: Democratic Sen. Elizabeth Warren slammed Trump’s “red light-green light” approach to tariffs. “Nobody can figure out what the rules will be five days from now, much less five years from now,” Warren mentioned on “State of the Union.”
The progressive lawmaker can also be among the many Democrats calling for a probe into whether Trump intentionally manipulated financial markets round his tariff pause. Lawmakers haven’t but supplied proof to again up their suspicions.
Former Treasury Secretary Larry Summers mentioned on NCS’s “Fareed Zakaria GPS” that the tariff coverage is “the worst self-inflicted wound through economic policy” since World War II.
And billionaire investor Ray Dalio advised “Meet the Press” the US is “very close to a recession.” Dalio referred to as Trump’s commerce insurance policies “very disruptive” thus far, although he acknowledged it “could be part of a process.”