A string of mixed signals from the Trump administration over the weekend regarding tariffs on smartphones, laptops and other electronics fueled
fresh uncertainty over U.S. trade policy, setting up another chaotic week on Wall Street and in Washington.
Tech investors briefly rejoiced when a notice from U.S. Customs and Border Protection posted late Friday said computers, tablets, Apple watches, computer monitors, semiconductor equipment and other electronics were exempt from many tariffs on Chinese products and a 10% tariff on all U.S. imports.
When asked about the exemptions late Saturday, President Trump told reporters on Air Force One that he would talk more about them on Monday, adding that “we’ll be very specific.”
Administration officials on Sunday, including Commerce Secretary Howard Lutnick, said the tech products exempted from many tariffs will face separate levies in a month or two as part of a trade investigation into semiconductors. White House trade adviser Peter Navarro said Sunday the official policy is “no exemptions, no exclusions.”
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Expect the market to crash further.
Trump’s word, as the world is finding out, means shit.
Say one thing today, another tomorrow and another the next day.
The world economy can not sustain itself when the richest nation on earth will not abide by agreements and treats contracts as meaningless.
This nation’s as well as the global economy are in serious trouble because of one Orange screwball.