Washington: U.S. President Donald Trump has said that no country will be exempt from tariffs due to unfair trade imbalances.
In a statement, President Trump specifically targeted China, saying it will not be spared from tariffs as it treats the U.S. unfairly. He also mentioned that a decision on Iran will be made soon.
Trump added that tariffs on mobile phones will be announced shortly, but there will be some flexibility.
Regarding semiconductors, the President stated that there might be flexibility for some companies, although details are not yet clear. He added that the tariff rates on semiconductors will be announced next week.
It is worth noting that China had earlier urged the U.S. to completely abandon its retaliatory tariff policies.
A spokesperson from China’s Ministry of Commerce stated that the U.S. must take significant steps to correct its mistakes, abandon retaliatory tariffs, and return to the path of mutual respect.
Currently, the U.S. imposes a 145% tariff on most Chinese products, while China has imposed a 125% tariff on American imports.
