Tariff exemptions will last only a month or two, warns Trump official

In the United States, President Donald Trump announced temporary exemptions for smartphones, computers, and other high-end electronics from the recently imposed 145% tariffs on China. However, Commerce Secretary Howard Lutnick clarified that these exemptions are short-lived, expected to last 'a month or two'. Lutnick indicated that the administration plans to introduce new tariffs focusing on semiconductors to ensure these products are manufactured domestically. The government's goal is to discourage dependence on foreign countries for essential products, thereby promoting American manufacturing. Trump also mentioned that discussions regarding broad relief for the car industry were ongoing, emphasizing the need for time to transition parts manufacturing back to the U.S. However, the uncertainty of whether these exemptions will be sufficient for manufacturers and consumers alike cast a shadow over their effectiveness. As Trump paused the broader tariff plan for the next 90 days, many economists have voiced skepticism about the long-term economic benefits of such tariffs and exemptions. As negotiations with China continue, Lutnick remains optimistic about reaching favorable outcomes, believing that collaboration will ultimately benefit the U.S. economy and ensure that American needs are met domestically.