Washington:
The United States on Monday opened the door to tariffs to target high -end technology and pharmaceuticals, catching uncertainty in a business war while catching the global economy that Chinese leader Xi Jinping warned that “no winner could be a winner.”
Following the weeks signals, such steps were coming, the US Commerce Secretary formally investigated the pharmaceutical imports in the “National Security” investigation, and another on semiconductors and chip -making equipment.
A comprehensive tariff was seen as a spectator, as Treasury Secretary Scott Besant entered the conversation with individual countries on reaching the business deals – but offered very little detail.
On China, he said that “a big thing is to be done” but it was particularly unclear about the time or the possibility of being time. Talks with Vietnam have begun and started with Japan on Wednesday, then South Korea, Besant told Bloomberg TV next week.
Wall Street recovered its legs, in which both Dow Jones and S&P 500 index closed slightly under one percent. This was followed by an increase in Asian and European markets.
Investors were relieved to reduce the pressure under President Donald Trump’s widespread pressure, but often an chaotic attempt to restore the world economy using tariffs to force the manufacturers to move the United States.
Trump is firm on the fact that Tariffs will bring back significant manufacturing, White House spokesman Kush Desai told the AFP on Monday that “the entire administration is committed to working on Tram time” – of course there is a mention of a quick moving on the matter.
Tight-for-tat exchanges have raised the levy on China by 145 percent this year, and Beijing has established a ventilative 125 percent barrier on American imports.
Late Friday night, US authorities announced exemption from the latest duties against China and others, such as a series of high -end technical goods such as smartphones, semiconductors and computers.
But Trump on Sunday suggested that the discount would only be temporary and he has still planned to implement obstacles on imported semiconductors and more.
On Monday, in a comment at the White House, Trump once again published to suggest a possible agreement, stating that he was “very flexible” and “looking to help some of the car companies, looking at something to help some of the car companies” hit 25 percent of his tariffs on all auto imports.
“I don’t want to hurt anyone,” he said.
China’s Xi, who killed a South -East Asia tour with a trip to Vietnam, warned on Monday that protectionism would “lead” and a business war “would be no winner.”
– Short -term relief? ,
Trump initially unveiled huge tariffs on countries around the world on 2 April.
He then created a face after a week when he said that only China would face the most heaviest duties, while other countries received a global 10 percent tariff for a 90 -day period.
Trade war is raising the possibility of an economic recession as dollars dump tumbles and investors dump the US government bonds, usually a safe shelter investment.
And the latest wrangling on high-tech products-an area where China and other East Asian countries are prominent-shows investors of uncertainty.
Washington’s temporary discount will benefit American tech companies such as Nvidia and Apple, which makes iPhone and other premium products in China.
But any relief can be temporary.
The US President said that he would “declare tariff rates for semi -circulars in next week,” and Commerce Secretary Howard Lutnik said he would “be in place in a month or two.”
– Talks –
The White House says Trump remains optimistic about acquiring a business deal with China, although the administration officials have made it clear that they hope that Beijing will reach before.
And the European Union’s trade head Maros Sephakovic said that “the European Union is creative and ready for a fair deal after a meeting with Lonnic and US Trade EnY Zamison Greer in Washington”.
Safekovic said that the deal may include mutuality through a “zero-to-zero” tariff proposal on industrial goods, but added to a social media post that “receiving it would require a significant joint effort on both sides.”
The Trump administration also says that dozens of countries have already opened trade talks to secure deals before the end of 90-day stoppage.
Japanese Economic Revolition Minister Ryosi Akajawa will visit Washington for talks this week, hitting 25 percent of Trump’s tariff on the auto sector.
(Except for the headline, the story has not been edited by NDTV employees and is published by a syndicated feed.)