President Trump reduces tariffs on consumer electronics and chip manufacturing equipment, but trade war with China continues

The US President continues his chaotic tariff policy, and yesterday announced a temporary suspension of tariffs on consumer electronics (smartphones and computers) and chip manufacturing equipment for all countries, and leaves tariffs on these Chinese-made goods at 20%, exempting them from the recently imposed 125%.

This once again demonstrates the ill-considered policy of high tariffs and the weakness of his position towards China. The president was forced to cancel the tariffs after pressure from big American business, because his decisions harm the US economy and consumers. The US Secretary of Commerce said yesterday that a new order with clarified tariffs will be issued on April 14.

The Chinese government stated that "the US decision to exempt certain types of electronics from tariffs is a step towards correcting mistakes, and the possible abolition of all tariffs will allow the countries to return to the path of mutual respect."

Recall that China announced an increase in tariffs on all American goods from 84% to 125% from April 12 in response to Trump's introduction of additional tariffs against Chinese goods.

China's Ministry of Finance noted that "the new US tariffs on Chinese goods will continue to be ignored, as the market will no longer be able to accept American products shipped to China at current tariffs."

At the same time, the Ministry of Commerce of the People's Republic of China believes that "the introduction of excessively high tariffs by the US administration against China has turned into a numbers game that has no practical significance for the economy, and the US is using its tariffs as a tool of coercion and bullying, making a laughing stock of them."

Previously, American media reported, citing the White House, that US tariffs on goods from China are currently 145%.