Commerce Secretary Lutnick says tariff exemptions for electronics are only temporary: Lutnick said "semiconductor tariffs" will likely come in "a month or two.".
Commerce Secretary Lutnick says tariff exemptions for electronics are only temporary: Lutnick said "semiconductor tariffs" will likely come in "a month or two.".
Lutnick said on "This Week" administration's exemptions on electronic devices from tariffs is temporary, with "semiconductor tariffs" likely come in "a month or two."
Commerce Secretary Howard Lutnick said Sunday that the administration's decision Friday night to exempt a range of electronic devices from tariffs implemented earlier this month was only a temporary reprieve, with the secretary announcing that those items would be subject to "semiconductor tariffs" that will likely come in "a month or two."
"All those products are going to come under semiconductors, and they're going to have a special focus type of tariff to make sure that those products get reshored. We need to have semiconductors, we need to have chips, and we need to have flat panels -- we need to have these things made in America. We can't be reliant on Southeast Asia for all of the things that operate for us," Lutnick told "This Week" co-anchor Jonathan Karl.
I caught that the instant he said it. So they are planning another round of Market Manipulation in a month or two, got it.
We've already had 3 rounds, in less than 90 days. It seemed like his 90 day pause on this last round was a bit longer because he wanted to let it cool down, but I knew he wouldn't be able to resist the lure of dirty money at the expense of the poors.
I'm happy for the heads up. Unfortunately, I dont have the kind of money required to take full advantage of this, but at least Ill know to hang on.
I hate to say it, but Musk was right; this guy is a moron.
This makes sense. Give the companies like Apple and nvidia time to set up some local factories. How long could it take to acquire land, set up a chip foundry, and train up staff? 90 days?
that's a matter of years, at best. Lutnick is just lying to appease the MAGA base.
I think you flll for sarcasm.
These people are all fucking idiots. No business can plan anything when costs are whipsawing and our trading partners are already tired of reacting to these near daily changes.
I just don't have language strong enough to convey my utter exasperation and the depth of my contempt for these people.
They don't even have a Steve Mnuchin type character this time who at least has a clue about how things work. This time Trump surrounded himself with all of the dumbest and most loyal kool-aid drinkers.
They definitely have to stop announcing tariffs effective in next few hours. Maybe a 2 year effective date announcement allows "progress" in US reindustrialization with CHIPS act type subsidies.
Thank you American voters, who voted for Trump or sat out because the opposition wasn't "good" enough.
Sincerely,
European resident
Okay. Then thank you to your grandparents who sat idly by while Poland was invaded?
We don't control much here. We get presented shitty options, the electoral college makes a lot of our votes not matter, and a lot of people are just trying to live.
Why do you make it sound like showing up for half a day and casting a vote is some ultimate sacrifice. That is the minimum duty of a citizen.
The opposition that 'wasn't "good" enough' was funding and supporting a genocide to the hilt. The USA is a fucked, evil state.
Ah yes because the genocide has stopped with the new administration.
My first presidential election was in 1980. I have voted in every election since, and I have NEVER voted for a candidate I liked. The best I could ever hope for was the lesser of two evils, and sometimes the difference wasn't so wide.
But that wasn't the case in 2024, where the difference between the two sides was far wider than I have ever experienced. I am very distressed at the situation in Haza, and I did not support Biden's weak, cowardly approach at all, but I also knew that Trump's approach was going to be far, far worse. And Harris' approach was an an unknown, since she refused to say anything that signalled any difference in policy from Biden.
But all of it is just blathering because that didnt make any difference in this election. It was totally rigged, and we ALL know it.
Yeah, because Trump didn’t make it clear enough that he was going to hand over as many bombs as possible to speed the genocide up so he could build a hotel/resort there. What the hell did you think would happen with the “I’ll just buy stocks in defense contractors before I escalate a war” Republican party?
Gimme a break. I hate Biden but at least he was trying to talk Netanyahu down and setup a peace deal. Biden even held bombs back until the republicans threatened to impeach him. Do I think he should have stuck to his guns, absolutely, but it’s congress that makes those decisions, not the president. Either way, thanks for choosing the worst timeline, directly or indirectly it doesn’t matter at this point.
Fuck off Russian shill.
Maybe you should blame yourselves for failing to convince the American people to vote for candidates who would cut off aid to Israel. Maybe, just maybe, camping in people's public spaces, spraypainting people's neighborhoods with "FUCK ISRAEL", and oh yeah, helping get a fascist dictator elected wasn't the best way to make those people want to side with you.
I mean I sympathize with actual Palestinians. Nobody should have to suffer what they've suffered. But let's be honest - Israel gets away with it for a reason. And that reason is globally, no one wants to side with Hamas (which by the way, actually films themselves murdering children. Brilliant.), and in the US, no one wants to side with edgelord protesters who just piss everyone off.
Israel may kill kids, but they actually try not to get it on video, and they spend millions on PR that portrays them as the victim rather than the aggressor (as opposed to being as visibly aggressive as possible like Palestine protesters). Maybe that has something to do with why they keep winning and you keep losing.
Maybe it's unfair for me to paint all Palestine protesters with a broad brush. I remember one had a sign listing all her dozens of family in Gaza who had been killed. That's moving - you need more of that, less attacking the people you want to support you.
To the people who saw my post and downvoted: it was not my choice that the Democrats ran the senile walking dead genocidal maniac in 2024. Then when it became too obvious how senile he was and they couldn't lie about it anymore, they passed the torch directly to a woman who was so dogshit at campaigning that she had to drop out of the 2020 primaries before a single vote was even cast.
You could blame us for not putting up a more honest candidate there in the first place, but there isn't a structure in place to even allow such a thing to happen. Consider what happened to Bernie 2020, for example.
If there was a viable non-genocide candidate, o wolf have voted for him.
I mean probably? No one knows what this fat, dementia and cocaine addled geriatric will do after all. Might be a month, might be next Thursday.
Just like the tariffs would not be paused. Cannot trust a thing that comes out of their mouths. Even if they think it is the truth and the current plan, the plan can change on the whim of agent orange.
It's frankly embarrassing that I don't see more people pointing out that his name very easily becomes NutLick.
Lol. Now this is the content I'm here for.
I still don't get the point of tariffs. Here's a Reason TV interview w/ Danial Hannan, a Conservative politician in the UK (bias: Reason TV is a "libertarian" publication), and he says there are three arguments the Trump administration is making in favor of tariffs:
- They bring in revenue and can reduce income tax
- Bringing jobs back to America
- Negotiating tactic
The interviewee argues all three are wrong, and argues that they're incompatible:
- if they're bringing in revenue, then they're not bringing in jobs because the imports are still coming in
- if they're bring back jobs, they're not bringing in much revenue, because local products don't pay the tariffs
- if they're a negotiating tool they're doing neither of the other two
Here are some other fun arguments:
Show me a country that wholly relies on manufacturing and I will show you a poor, developing country. You move from agriculture, then to manufacturing, then to services. And with each of those moves, you get richer, you work shorter hours, and you live better.
So why would we want to move manufacturing here? It's just going to shift jobs away from services to manufacturing, which would be a net reduction in total value.
The better solution is to train the workforce to develop services, which are more lucrative. There's an argument that we need some amount of local production for national security reasons (i.e. if supply lines get disrupted, we need some minimum level of production capacity in wartime), but we don't need to make everything.
Most of us are not getting richer, nor working shorter hours, nor living better than our parents. We're past "services" and on into "parasites."
In principal, tariffs can prop up domestic industry that is having trouble competing with cheaper imported products. In practice, this winds up being really complicated, because the world is a lot more interdependent than it was 80 years ago.
Is that actually true though? You have access to technology that was science fiction when your parents were kids, and at least in the US (I don't know where you live), median inflation adjusted earnings are higher than they were 45 years ago.
Statistics obviously don't matter to individuals at the fringes, but they are helpful in understanding trends. Maybe you are worse off than your parents were at your age, idk, but the statistics show that more people are better off than worse off (that's what medians show).
tariffs can prop up domestic industry
In theory, yes. In practice, it's a lot more complicated. There's good evidence that Hoover's tariffs, which were intended to revitalize American industry, turned a recession into a depression.
Tariffs make things more expensive, which means people buy less. If people buy less, companies produce less, which means they need fewer employees. This can become a terrible cycle where demand craters, jobs vanish, and inflation skyrockets. Tariffs can maybe work if targeting a specific industry, broad tariffs just make everything more expensive.
Economists tend to prefer stimulating the economy with lower borrowing rates, which reduces the cost to expand business, which can lead to more employment, which can lead to more money circulation, etc. It can also lead to more inflation, since there's more dollars chasing the same number of goods, so it needs to be used with care (i.e. only when production/employment is lagging).
I personally think that, largely speaking, if imports are cheaper than local production, that's a good thing! You're getting more value for your money, so people can live a better life with the same amount of money. Since local production is no longer valuable, people can take more lucrative jobs, like services. Cheaper imports should be embraced, not tariffed, and people should be trained properly to qualify for those better jobs.
Look at the top 10 exports:
- Mineral fuels including oil: US$320.1 billion (15.5% of total exports)
- Machinery including computers: $252.4 billion (12.2%)
- Electrical machinery, equipment: $213.9 billion (10.4%)
- Vehicles: $143.8 billion (7%)
- Aircraft, spacecraft: $134.2 billion (6.5%)
- Optical, technical, medical apparatus: $106.3 billion (5.1%)
- Pharmaceuticals: $94.4 billion (4.6%)
- Plastics, plastic articles: $80.1 billion (3.9%)
- Gems, precious metals: $73.8 billion (3.6%)
- Organic chemicals: $51.9 billion (2.5%)
Those require a lot of expertise to produce, and they're largely complex, finished goods. That means there's a lot of non-factory type work that goes into them, unlike iPhones and plastic crap, which are mostly labor (the technical bits are already largely designed by Americans).
We should be looking to outsource more (anything we can't automate), not less, and use the savings to improve education. If you want better jobs, more access to advanced tech, and generally a better life, this is how you get it.
This guy doesn’t even know what semiconductors are.
Nutlick is not a smart man
Probably thinks conductor like for a symphony driving a semi truck
Everyone learned about those in grammar, don't insult the man's intelligence.
These power tripping motherfuckers get off on purposefully stepping on rakes.
I wish it was that. No, this is actual evil, not incompetence. Trump has turned the US economy into the largest pump and dump scheme ever. Worse, he's bragging about how his friends made billions. I can't even believe this is happening. I'm in utter shock. I knew Trump would be bad, but straight up flaunting corruption like it's a joke and even bringing the SCOTUS on board with this. I'm just gob smacked.
No, this is actual evil, not incompetence.
It's both. You may have heard of the dictatorship of the proletariat. This is the dictatorship of the subnormal bullies.
Howard, you ignorant slut.
Yay more chaos.
Is this a Gov't version of surge pricing? Fluctuate as they see fit to manipulate the markets. They get rich, we get screwed.
Trump and Lutnick will be turning the American economy into a Lootbox/Skinner Box economy... let the FOMO purchasing flow through you, buy buy buy before the tariffs go on again!
C'mon Gina! Give us germanium!
Usa continues to sail away from all the rest of the world.
meh. all whines with no idea how they get to the next part.