Trump Threatens New Tariffs On Smartphones After Exempting Them

UNITED STATES – Donald Trump says Chinese-made electronics like smartphones won’t escape tariffs after all.

Trump announced this week that they’re just being moved to a different category.

This comes after a U.S. customs notice suggested some gadgets would be exempt from a 125% levy. But Trump clarified, saying new semiconductor tariffs are coming.

China is calling for all tariffs to be scrapped, but U.S. officials say tougher measures could be on the way.

Markets reacted with a bounce in Europe, but fears of an escalating trade war are said to remain high.