US President Donald Trump is exempting computers, phones and chips from retaliatory tariffs. This was announced by US Customs and Border Protection, writes the American media CNBC. The exemption comes after Trump has recently significantly raised tariffs on Chinese goods. With the latest tariff increase this week, US tariffs on Chinese goods are at least 145 percent. In response, China has raised tariffs on American goods to 125 percent.
Previously, the expectation was that the high tariffs would particularly affect the technology company Apple, which produces over 80 percent of its products in China, writes CNBC. China's Ministry of Finance has previously said, according to AFP, that the high US tariffs defy "basic economic laws and common sense". The Chinese have therefore once again officially filed a complaint with the World Trade Organization (WTO) over the US punitive tariffs on Chinese goods, writes Reuters.
Last week, Donald Trump announced a series of extensive tariff increases for countries around the world. This has sent shockwaves through stock markets from the US to Asia, and fears of a recession have increased. On Wednesday this week, the US president changed course and eased tariffs for virtually all countries for 90 days - but not China. Donald Trump has said that tariffs will increase for countries that introduce or increase tariffs on US goods.
The US president acknowledges the difficulties of his tariff policy. But he also maintains that it is the right course for the US. With higher tariffs, he wants to force foreign companies to produce their goods in the US, thereby creating American jobs and boosting the US economy.
jel /ritzau/
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