What Happened: Trump, speaking aboard Air Force One, emphasized the desire to manufacture semiconductors domestically, according to a report by Reuters.
He mentioned the need for flexibility in tariff application, without confirming if certain products like smartphones would remain exempt.
Earlier, Trump initiated a national security trade investigation into the semiconductor industry. His commerce secretary, Howard Lutnick, indicated that critical technology products from China would face new duties within two months.
The proposed tariffs have already impacted markets, with the S&P 500 index experiencing significant volatility. Bill Ackman, a billionaire investor, urged Trump to pause tariffs on China temporarily to avoid economic disruption.
Critics, including Sen. Elizabeth Warren (D-Mass.), have voiced concerns over the tariff strategy, citing potential economic harm. Meanwhile, Ray Dalio expressed fears of a recession if the situation isn’t managed properly.
The reprieve temporarily reduced the scope of levies on certain consumer electronics produced in China.
Read Next:
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock
© 2026 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
To add Benzinga News as your preferred source on Google, click here.
