The White House announced on Saturday to eliminate smartphones, laptops and other important electronic products from special rates. But you only do that temporarily, the American Minister of Trade Howard Lutnick now clarified.
In the field of semiconductors, new rates are planned “which will probably come in a month or two”. “We have to have these things made in America. We cannot rely on strange things we need,” said the American Minister of Handard Lutnick on Sunday. It was already speculated that the relief could only be a respite period.
Electronic devices and pharmaceutical products are then also affected by the new rates, Lutnick said. The Minister of Trade had previously discussed the fact that iPhones will be made in the United States in the future, with the help of robots. Specialists from the industry, however, consider this difficult to implement, because it is missing from specialists. Moreover, production in the United States would make the devices considerably more expensive.
Commerce Policy Zigzag Course
As reported, the US government initially had certain electronic products of the special rates that have already been announced against China. Apple benefits, among other things, because most iPhones and other devices of the group have been built in China.
Trump’s trade policy Zigzag course is falling in uncertainty both international markets and American companies and customers. The United States now need taxes of up to 145 percent on import from China. The Chinese government responded to American products with counter-tariffs of 125 percent.
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
