The Trump administration continues to flip-flop on tariff policy, casting a cloud of constant macroeconomic uncertainty over markets.
Commerce Secretary Howard Lutnick walked back the recent reciprocal tariff exemption on select electronics announced in an April 12 bulletin from the United States Customs and Border Protection.
On April 13, Lutnick told ABC News that the reciprocal tariff exemption was temporary until the administration established a sector tariff regime for semiconductor products, which includes phones, graphics processors, and computing chips in a “month or two.” Lutnick added:
“We can’t be relying on China for fundamental things we need. Our medicines and our semiconductors need to be built in America,” Lutnick continued. The official also said he was confident that the US and China would arrive at a trade deal through negotiations.
