Trump signals toughened trade policy against China, new tariffs expected

Former President Donald Trump reaffirmed his hardline trade stance against China, insisting that existing tariffs on Chinese electronics will remain in place despite recent temporary exemptions for certain high-tech products. He announced that additional tariffs targeting the semiconductor sector are forthcoming, emphasizing that no one will escape scrutiny. This follows a notice from US Customs and Border Protection that exempted 20 categories of high-tech goods, which the Secretary of Commerce clarified would still be subject to new tariffs soon. Amidst these developments, business leaders are pressuring Trump to consider a ceasefire on tariffs, arguing that the current levies are harming US businesses. Bill Ackman, a notable financier, suggested a temporary pause on tariffs to allow negotiations with China, highlighting the struggles of small and medium-sized enterprises. The ongoing trade confrontation has seen the US impose tariffs as high as 145 percent on Chinese imports, with retaliatory measures from China also impacting American goods.