President Donald Trump announced plans to reveal the new tariff rate on imported semiconductors in the coming week, according to Reuters. The announcement raises uncertainty over whether exemptions for smartphones and computers will remain. Commerce Secretary Howard Lutnick signaled that new duties on critical tech products from China could be imposed within two months. The announcement follows a temporary reprieve for tech firms like Apple and Nvidia, which had benefited from exemptions. Market volatility intensified, with the S&P 500 swinging sharply.
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00:00It's Benzinga bringing Wall Street to Main Street.
00:02President Donald Trump announced plans to reveal the new tariff rate on important
00:05semiconductors in the coming week, according to Reuters. The announcement raises uncertainty
00:10over whether exemptions from smartphones and computers will remain. Commerce Secretary Howard
00:15Lutnick signaled that new duties on critical tech products from China could be imposed within two
00:21months. The announcement files a temporary reprieve for tech firms like Apple and NVIDIA,
00:26which had benefited from exemptions. Market volatility intensified,
00:31the S&P 500 swinging sharply. For all things money, visit Benzinga.com slash GSTV.