Cnn
–
Commerce secretary Howard Lunick said that the Trump administration’s decision to exempt electronic devices – such as smartphones, iPhones and laptops – tariffs was only temporary suspension, but these products will face separate direct debits, adding more confusion to an already chaotic deployment of prices on Chinese goods.
“(The electronics is) exempt from reciprocal prices, but they are included in the prices of semiconductors, which are probably arriving in a month or two,” Lutnick told ABC News “this week” Jonathan Karl on Sunday.
Prices targeting the specific commercial sectors will be taxed in the coming months on certain Key to Security products, which will not be “available for negotiations,” said Libnick.
On Sunday afternoon, President Donald Trump sought to clarify the status of American prices on high-tech products from China.
“No one embarks on” unfair commercial sales and non -monetary pricing barriers, which other countries have used against us, in particular not China which, by far, treats the worst! ” Trump posted on Truth Social.
“There was no” exception “tariff announced on Friday. These products are subject to existing prices at 20% of fentanyl, and they simply move to a different pricing “bucket”. The false news know it, but refuses to report it, “he continued.
A Note of American customs and border protection Friday, electronic products exempted 145% prices on Chinese products.
Appearing on CNN’s “State of the Union”, Massachusetts Democratic Senator Elizabeth Warren, described the confusion of changing tariff rates and how smartphones and computers have been spared reciprocal rates such as “chaos and corruption”.
“Investors will not invest in the United States when Donald Trump plays` Light Red, Green Light ” with prices and says: “Oh, and for my special donors, you get a special exemption”, “said Warren.
Wedbush Securities analysts on Saturday called the electronics pricing exemptions “the best possible news for technological investors” and that “companies like Apple, Nvidia, Microsoft and the technological industry in general can push a huge relief this weekend until Monday”.
The price boost sent the grantFeeling of consumers falls to second lower ever recorded Since 1952 and stimulated fears of a recession. But the Trump administration has stable that prices will strengthen the American economy by stimulating manufacturing and protecting jobs.
Trump officials were mixed on how to describe the announcement of the end of Friday, but stressed that there would be a study on the effects of national security imports of semiconductors – known as article 232, after which Trump could impose another list of specific electronic rates.
The main commercial advisor of the White House, Peter Navarro, the representative of American trade Jamieson Greer and the director of the National Economic Council Kevin Hassett have all discussed Trump’s pricing policies in Sunday information programs. In an interview on the “meeting of the press of NBC News with Kristen Welker”, Navarro did not say if there had been new talks with China, but we noted “we opened our invitation” and Trump has a “good relationship” with the president of China Xi Jinping.
Import prices from China total 145% and the Chinese government retaliated by placing 125% tariffs on all American imports. Chinese chief XI said his nation was “Not afraid” “ But officials said they would not increase prices in the United States greater than 125%.
Appearing on “State of the Union, Hassett said that 130 countries are negotiating prices with the United States after 90 -day break on reciprocal pricesExcluding people placed on China.
“There is a process on China, and it’s very, very emerging, if not at all,” he said. “The process for everyone is ordered, it’s clear.”
When he was asked on CBS News “Face The Nation with Margaret Brennan” if the United States wants China to sell its American assets, some of which are linked to American treasury bills, Greer said that “this was not part of this plan” and that “the only reason that we are really in this position at the moment is that China has chosen to retaliate”.
Meanwhile, the economist Oren Cass, founder of the AMERICAN COMPASS RIGHT TRUTION group, kept CNN’s “making Zakaria GPS” that he supports the price of 10% between prices and much higher prices on China but criticized the uncertainty of the way the prices have been put in place.
Confusion and doubt about prices
“No one can understand what the rules are in five days, in much less than five years,” Warren said on Sunday.
Former Treasury Secretary Larry Summers said “making general practitioners of Zakaria” that pricing policy was “the worst injury self-inflicted by economic policy” since the Second World War.
“It’s bad about competitiveness, evil on unemployment, evil on inflation … The best thing we can hope for is that people are starting to see the feeling and reverse these mistakes,” said Summers.
Summers added that the president of China Xi has a “clever agreement” because Trump’s trade policies have China to see “the scope of the new influence, the scope for the new markets, the scope to move the United States in a kind that they could not have imagined”.
Billionaire investor Ray Dalio, appearing on “Meet The Press”, has so far called Trump’s trade policies “very disruptive”. But that “could be part of a process,” he added. “It depends where we are at the end of the 90 days.”
When Dalio was asked about the probability of an imminent recession, he said that America was “very close to a recession”.
JPMorgan says that the chances of a recession are now 60%, compared to 40%. The prediction of Goldman Sachs is now 45%.
“If you take prices, if you take debt, if you take the growing power contesting the existing power – if you take these factors, these changes in the systems are very, very disruptive,” said Dalio. “How it is managed could produce something worse than a recession or it could be well managed.”
Kevin Liptak of CNN and Elisabeth Buchwald contributed to this report.