President Donald Trump is hinting that new tariffs on the semiconductor industry could go into effect soon as he rips into China.
‘The tariffs will be in place in the not-too-distant future,’ Trump told reporters on Air Force One on Sunday night.
‘Like we did with steel, like we did with automobiles, like we did with aluminum… we’ll be doing that with semiconductors, with chips and numerous other things,’ he added.
Trump also said that tariffs on the pharmaceutical industry will be happening ‘very fast.’
‘We’re going to have our drugs made in the United States, so that in case of war, in case of whatever, we’re not relying on China and various other countries, which is not a good idea,’ Trump went on.
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Majority of CEOs worry a recession is coming
By Emily Goodin, senior White House correspondent
A majority of America’s top business executives are worried the country could enter a recession soon, a new survey found.
In a poll of more than 300 CEOs conducted in April, 62% said they see a recession or other economic downturn in the next six months, according to Chief Executive, an industry group that runs the survey.
That’s up from 48% who said the same in March.
The survey reflects the growing concern in corporate America about President Donald Trump’s on-and-off again tariffs and the volatility they’re causing in the global stock markets.
Exclusive:Gripping story of how Trump’s finance guru Scott Bessent shoved aside MAGA loyalists to save the world from economic oblivion
When Treasury Secretary Scott Bessent took the podium at the American Bankers Association on Wednesday morning he was anything but ‘yippy’ – the president’s term to describe the handwringing of Republicans and financiers who were sounding the alarm on his tariffs.
Early on, Trump branded them as ‘Panicans,’ a ‘new party based on weak and stupid people,’ but Bessent struck a unique messaging balance that both reassured stock traders and his boss.
Bessent reassured the room of bankers that, thanks to the president’s tariff threats, 75 countries were willing to negotiate with him, and that 15 of those nations had already proposed a deal.
Trump says Russia ‘made a mistake’ with Palm Sunday strikes
I think it was terrible. And I was told they made a mistake. But I think it’s a horrible thing. I think the whole war is a horrible thing. I think, for that war to have started, is an abuse of power.
This country would have never allowed that war to have started if I were president. That war is a shame.
Huge Trump tariff U-turn will exempt iPhone and laptops
The moves gives the likes of Apple and Samsung a major win while Americans dodge massive price hikes.
Trump says there will be NO tariff exemptions in dramatic reversal that’ll hit Americans hard
President Donald Trump on Sunday insisted there will be no exemptions in the tariffs after there was some confusion when it came to electronics.
‘NOBODY is getting “off the hook” for the unfair Trade Balances, and Non Monetary Tariff Barriers, that other Countries have used against us, especially not China which, by far, treats us the worst!’ the president posted on Truth Social.
A notice released late on Friday suggested gadgets would avoid Trump’s 125 percent import tax on Chinese goods and even his sweeping 10 percent global tariffs.
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Trump hints at new tariffs for major industry that could send Wall Street reeling as he rips into China
