US opens door to tariffs on pharma, semiconductors

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WASHINGTON: The United States on Monday opened the door for advanced technology and pharmaceutical tariffs, which fed the global economy in the trade war and fed uncertainty, which Chinese leader Xi Jinping has warned that he has no “winner”.

Such a move was taking place after weeks of indications, the US trade secretary formally announced an investigation into “national security” pharmaceutical imports, and another semiconductor and chip -making equipment.

Treasury Secretary Scott Basant, in a conversation about reaching trade deals, was deployed by the Treasury Secretary Scott Basant.

On China, he said “have to make a big deal” but was particularly vague about the possibility of it or its possibilities. Basant told Bloomberg TV that talks with Vietnam had begun and that he was about to begin with Japan on Wednesday, then South Korea next week, Basant told Bloomberg TV.

President Donald Trump’s extensive but often chaos was relieved under pressure, but attempts were made to reset the global economy by using tariffs to force manufacturers to move to the United States.

Wall Street’s stock remained firmly on Monday when markets welcomed more compromise symptoms on the Trump administration’s key electronics for key electronics. Asian and European markets also increased.

Trump is stable that the prices will bring back critical manufacturing, White House spokesman Kosh Desai told AFP on Monday that “the entire administration is committed to work at Trump’s time” – apparently referring to the move – on this matter.

The exchange of tight titts has shown that China has increased by 145 % this year, and Beijing has hindered US imports 125 %.

At the end of Friday, US officials announced the latest duties against China and others, which has a range of advanced tech equipment such as smartphones, semiconductors and computers. But Trump advised Sunday that the waiver would only be temporary and that he still planned to put more obstacles to imported semiconductors and more.

In response, South Korea – which is the home of a United States largest exporter and the world’s largest memory chip -making company Samsung’s home – on Tuesday announced plans to invest an additional 9 4.9 billion in its semiconductor industry.

The South Korean Ministry of Finance said the “rising uncertainty” at US prices has left the country’s powerful industry to support. On Monday, Trump once again suggested a possible compromise in the White House remarks, saying that he was “very flexible” and was “looking for some of the car companies to help” some of his auto imports affected 25 % of his tariffs.

“I don’t want to hurt anyone,” he said. China’s XI, which started a visit to Southeast Asia with a visit to Vietnam, warned Monday that protectionism would “take anywhere” and the trade war would not “win”.

The relief of short life?

Trump initially unveiled huge prices on countries around the world on April 2.

He then made a face a week later when he said that only China would face the heaviest duties, while other countries received the global 10 % tariff for a 90 -day period. Trade war is raising concerns about economic misery as the dollar disturbances and investors eliminate US government bonds, usually consider investing a safe haven. And the latest wandering on high-tech products-an area where China and East Asian countries are key.

Washington’s temporary discount will benefit US tech companies such as NVIDIA and Apple, which produces iPhones and other premium products in China.

But any relief can be temporary.

The US president said he would announce tariffs for semi -conductors next week, and secretary commerce Howard Lotnik said he would likely be “in a month or two.”

Negotiations

The White House says Trump is hopeful about acquiring a trade deal with China, though administration officials have made it clear that they expect Beijing to arrive first.

And EU trade chief Maros Saifkoich said that “the European Union is ready for a constructive and fair deal after meeting with Jameson Greer in Washington and after meeting with Jameson Greer.”

Saif Covich said the deal could include mutual support through a “zero zero” tariff offer on industrial goods, but a social media post further stated that “it would require a significant joint effort from both sides”. The Trump administration also says that dozens of countries have already opened trade talks to secure deals before the 90 -day break ends.

Japanese Economic Rehabilitation Minister Russian Akazawa will visit Washington this week, with his country’s car makers affect Trump’s 25 % tariff on the auto sector.