White House plans new semiconductor-focused tariffs within 60 days, raising fresh concerns on Wall Street
- The Trump administration’s tariff whiplash continued Sunday, as Commerce Secretary Howard Lutnick confirmed that exemptions granted to smartphones, flat-screen TVs, and semiconductors are only temporary — with new tech tariffs coming within two months.
- Appearing on ABC’s This Week, Lutnick laid out the next phase:
“All those products are going to come under semiconductors… We need to have these things made in America,” he said, hinting at special-category tariffs designed to drive onshoring of chip and display manufacturing.
- The update came just days after Customs and Border Protection released guidance exempting key tech imports from Trump’s sweeping 145% tariffs on Chinese goods and 10% tariffs on global imports — a move cheered by Apple, Nvidia, and the broader S&P 500.
- Now, the White House says those same tech products will face “semiconductor-focused tariffs” by summer, effectively moving them into a new regulatory bucket.
- White House Trade Representative Jamieson Greer confirmed the policy pivot on CBS’s Face the Nation, saying the electronics tariffs were “shifting from one bucket to another.”
Markets Reacting to Every Pivot
The tech sector, which makes up over 25% of the S&P 500’s valuation, has been the market’s biggest wildcard. Stocks surged Wednesday after the exemptions were announced, but Sunday’s reversal could limit Monday’s rebound, with Investor’s Business Daily warning that chip-related names may face renewed pressure.
📊 Winners so far:
- Apple (AAPL) recouped over $180B in market value last week
- Nvidia (NVDA) and AMD (AMD) rallied on exemption news
- But Tesla (TSLA) continues to plunge, hit by both tariffs and political backlash against Elon Musk’s DOGE department leadership
Administration’s Messaging Splinters
- On NBC’s Meet the Press, Peter Navarro defended the president’s overall approach, touting “onshoring” and claiming dozens of countries were lining up for new deals — though only named the U.K.
- Meanwhile, Trump used a White House pool spray to celebrate market gains with Charles Schwab and NASCAR’s Roger Penske, boasting:
“He made $2.5 million, and he made $900 million! That’s not bad!”
What to Watch:
- Semiconductor tariffs could land by June, affecting everything from iPhones to solar cells
- Market volatility is expected to stay elevated, with tech likely bearing the brunt
- U.S. trade team has 90 days to ink deals — or tariffs may snap back even harder
Bottom line: The brief tariff reprieve for tech was real — but so is the reversal. Markets will be watching for clarity this week as the White House balances political theater with economic stability.
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.
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