Washington: U.S. President Donald Trump has issued a strong warning against what he described as "unfair trade imbalances," suggesting that no country will be exempt from upcoming tariffs.
In a statement, Trump declared that no exceptions will be made to the tariffs announced on Friday, signaling a tough stance on trade, especially with China. He emphasized that Chinese electronic goods remain subject to a 20% tariff under a separate list, particularly due to their connection with the synthetic opioid fentanyl.
The U.S. has long accused Chinese corporations of knowingly supplying groups involved in the production of fentanyl, fueling a public health crisis across America.
Trump stated that ongoing investigations into national security and tariffs will now consider a broad range of electronic goods, including semiconductors and the entire electronics supply chain. Reiterating his intention to revive domestic manufacturing, Trump said: “What we’ve learned is that we need to make products in America.”
The president argued that this move is necessary to avoid being "held hostage" by nations like China, which he described as a “hostile trading nation.”
Despite Trump’s tough rhetoric, the White House on Friday granted an exemption for smart phones and computers from the new tariffs on Chinese imports. This decision follows demands from Beijing for a full rollback of tariffs.
Meanwhile, Chinese President Xi Jinping is set to visit Vietnam today as part of a tour of three major Southeast Asian manufacturing nations. He is expected to meet with Vietnamese leaders in Hanoi before traveling to Malaysia and Cambodia later this week. The visit aims to strengthen strategic ties with regional allies.
Vietnamese Deputy Prime Minister Bui Thanh Son confirmed that the two nations plan to sign nearly 40 agreements, including deals on agricultural trade and green economy initiatives.
The recent imposition of tariffs, followed by a 90-day pause, has already impacted global financial markets and raised concerns about potential damage to international trade.
