Tariffs Update: Trump Offers Significant Concession on China Tariffs as US-UK Trade Agreement Looms Close

According to White House spokesperson Karoline Leavitt, Donald Trump has emphasized that the United States cannot depend on China for manufacturing crucial technologies like semiconductors, chips, smartphones, and laptops.

She asserted that under Mr. Trump’s direction, prominent tech companies—such as Apple, Nvidia, and Taiwan Semiconductor—“are working diligently to relocate their manufacturing to the United States as quickly as possible”.

Following Donald Trump’s exemption of smartphones and other electronics from global tariffs, an analyst at Wedbush Securities remarked that this is “the most optimistic news we could have received this weekend.”

Dan Ives noted in an industry report, as covered by Reuters, “There remains significant uncertainty and volatility ahead concerning these discussions with China.”

“Big Tech firms, including Apple, Nvidia, Microsoft, and the wider tech industry, can breathe a huge sigh of relief this weekend heading into Monday.”

When questioned on Saturday about his rationale for granting exemptions on smartphones, computers, and semiconductors, Donald Trump responded to reporters aboard Air Force One: “I’ll provide that answer on Monday.”

“We’ll be very explicit on Monday … we’re bringing in substantial revenue as a nation, we’re bringing in substantial revenue.”

Chinese President Xi Jinping has pledged to enhance China’s strategic partnership with Indonesia during a conversation with his counterpart Prabowo Subianto, as reported by Beijing’s state-run news agency, Xinhua.

Mr. Xi conveyed to Mr. Prabowo that their bilateral relationship holds strategic importance and global implications as they congratulated each other on the 75th anniversary of their diplomatic relations, according to Xinhua.

Beijing is seeking to rally other nations in a unified stance against the US-imposed import tariffs announced by Donald Trump last Wednesday. Following a back-and-forth escalation, Mr. Trump has increased the levy on Chinese imports to 145 percent, though he has made exceptions for smartphones, laptops, and computer chips.

Mr. Xi is set to visit Vietnam, Malaysia, and Cambodia starting Monday to strengthen ties with some of China’s closest neighbors amid escalating trade tensions with the US.

Tesla has reportedly ceased accepting orders for Model S and Model X vehicles on its Chinese website as trade tensions between the two largest economies escalate.

Both models are produced in the US and imported to China. Orders for these vehicles were also unavailable on the company’s WeChat mini-program account in China, according to Reuters.

Although the company did not specify a reason for this decision, it coincides with a growing trade conflict between China and the US.

On Friday, China increased tariffs on US imports to 125 percent following President Donald Trump’s announcement to raise duties on Chinese goods to 145 percent.

The elevated tariffs from the US significantly raise the retail prices for Chinese consumers, rendering these vehicles more costly than domestically produced electric vehicles.

The Texas-based company remains the least affected by Trump’s tariffs among automakers due to its primarily domestic manufacturing for US sales.

Japan has stated it will not use its US Treasury holdings as a bargaining chip in upcoming tariff negotiations with the United States.

Both countries are set to discuss tariffs on April 17, following the White House’s announcement that Japan is a priority for trade talks. “As an ally, we wouldn’t intentionally act against US government bonds, and causing market instability is certainly not favorable,” said Itsunori Onodera, the Liberal Democratic Party’s policy chief, during an interview with public broadcaster NHK.

Mr. Onodera emphasized that Japanese automotive manufacturers would be among the most affected by the 25 percent uniform tariffs on cars.

“It’s crucial that we stand firm on this matter,” he remarked, urging the Japanese delegation to “strongly advocate” for the removal of these measures.

“It’s evident that the US is in a difficult position, so our conversation should begin with, ‘perhaps it’s best to put a stop to this?’” he concluded.

Saturday Night Live delivered another comedic critique of President Donald Trump’s tariff policy, following last week’s “Liberation Day” skit.

James Austin Johnson reprised his role as the president in an Easter-themed sketch that opened with Jesus, portrayed by Mikey Day, driving out the moneylenders from the temple during his entry into Jerusalem.

The Biblical scene paused as SNL’s Trump made his entrance.

“Does this remind you of someone?” he quipped amidst laughter. “I also eradicated money last week, but instead of a single temple, I tackled an entire country. Maybe even the whole planet. The money is gone.”

Report by Oliver O’Connell.

President Donald Trump announced that he would provide an update regarding his administration’s stance on semiconductor tariffs on Monday.

“I’ll give you that answer on Monday,” Mr. Trump told reporters aboard Air Force One.

“We are generating significant revenue. As a nation, we’re generating substantial revenue,” he reiterated.

In a significant move, President Donald Trump’s administration has granted exemptions from hefty reciprocal tariffs on smartphones, computers, and other electronics predominantly imported from China, offering substantial relief to tech giants like Apple that depend on these imported products.

The US Customs and Border Protection agency issued a notice detailing tariff codes excluded from these import duties, effective retroactively from 12:01 a.m. (local time) on April 5.

Among the 20 product categories mentioned are the comprehensive 8471 code covering all computers, laptops, disc drives, and automated data processing devices, as well as semiconductor devices, equipment, memory chips, and flat-panel displays.

While no rationale was given for this decision, the late-night announcement provides crucial assistance to major tech firms such as Apple and Dell Technologies and other importers.

Trump’s actions also exempt the identified electronics from his 10 percent “baseline” tariffs on goods from most nations besides China, thereby lowering import expenses for semiconductors from Taiwan and iPhones manufactured in India.