President Trump announced that he would be announcing the tariff rate on imported semiconductors within the week, suggesting that smartphones and computers may no longer be excluded from tariffs. A national security trade probe into the semiconductor sector was also announced. Despite initial hope that the tech industry might escape tariffs, it was clarified that critical technology products from China would face new duties, along with semiconductors, within the next two months. The back-and-forth on tariffs by Trump has caused significant fluctuations in the stock market. Billionaire investor Bill Ackman called for a pause on the reciprocal tariffs on China, while other officials criticized the tariff plan as causing chaos and corruption. Trump’s administration has invited China to negotiate, with hopes for deals to be made with other countries in the near future. Ray Dalio expressed concerns about the impact of tariffs on the economy, warning that the U.S. could be at risk of slipping into a recession if the situation is not handled appropriately.
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