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Trump warns exemptions on smartphones, electronics will be short-lived, promises future tariffs
The US president has said no one is ‘getting off the hook’, as he promises to launch a national security investigation into the semiconductor sector
The fallout from Trump’s tariffs – and subsequent whiplash policy reversals – sent shock waves through the US economy, with investors dumping government bonds, the dollar tumbling and consumer confidence plunging. US senator Elizabeth Warren, a Democrat, criticised the latest revision to Trump’s tariff plan, which economists have warned could dent economic growth and fuel inflation. Beijing’s commerce ministry had said Friday’s move to exempt some electronic products only “represents a small step” and insisted that the Trump administration should “completely cancel” the whole tariff strategy.
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