According to Howard Lutnick, the technology industry may not be safe from new tariffs.
The Trump administration announced that consumer electronic devices such as laptops and smartphones will be exempted from tariffs announced earlier this month. (Trump delayed a lot of tariffs this week, but he left a 10%standard tariff and imposed additional tariffs on Chinese products.)
According to a report on exemption, technology products can still be affected by target tariffs, and semiconductors are under specific investigation.
LUTNICK made it clearer in an interview with “This Week” in an interview with the ABC show on Sunday morning. Trump says these products are “exemption from mutual tariffs,” but may probably include “semiconductor tariffs that are coming in a month or two.”
“All these products will come to semiconductors and have a special focus tariff so that these products are reconstructed,” Lutnick said. “Semiconductor needs, a chip, and a flat panel. You need to make these things in the United States.”
Lutnick has been pressed on whether tariffs mean higher prices for US consumers, and again, “I don’t think so.” (Others are fantasies that “millions and millions of troops will come to the United States to ruin the small screws to create a vision of Lutnick.)
Trump himself was asked about semiconductor tariffs this weekend, and he said, “I’ll answer that on Monday.”
