President Trump warns no country ‘off the hook’ on tariffs

Kathmandu: US President Donald Trump has warned that no country would be “getting off the hook” on tariffs, as his administration suggested exemptions seen as favoring China would be short-lived.

The world’s two largest economies have been locked in a fast-moving, high-stakes game of brinkmanship since President Trump launched a global tariff assault that particularly targeted Chinese imports.

Tit-for-tat exchanges have seen US levies imposed on China rise to 145 percent, and Beijing setting a retaliatory 125 percent band on US imports.

The US side had appeared to dial down the pressure slightly on Friday, listing tariff exemptions for smartphones, laptops, semiconductors other electronic products for which China is a major source.

President Trump and some of his top aides said Sunday that the exemptions had been misconstrued and would only be temporary as his team pursued fresh tariffs against many items on the list.

‘NOBODY is getting off the hook, ‘ especially not Chin, who, by far, treats us the worst! President Trump posted on his Truth Social platform.

Earlier, Beijing’s Commerce Ministry on Friday said move only “represents a small step” and insisted that the Trump administration should “completely cancel” the whole tariff strategy.

The new exemptions will benefit US tech companies like Nvidia and Dell as well as Apple, which makes iPhones and other premium products in China.

RSS/AFP