US-China Trade Tensions Escalate with New Tariff Investigations on Semiconductors and Pharmaceuticals
The Trump administration plans to impose new tariffs on semiconductors and pharmaceuticals while Nvidia invests in domestic chip manufacturing.
Trump’s move towards new tariffs on chips and pharmaceuticals raises the prospect of fresh turmoil for businesses and financial markets around the globe, which have been roiled by the US president’s dizzying back-and-forth announcements on trade.
Trump moves to put tariffs on chips and drugs, floats pause on auto duties
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Still, Trump has pushed for the fees, arguing that the US needs more drug manufacturing so it does not have to rely on other countries for its supply of medicines.
US begins inquiry into pharmaceutical and chip imports in bid to impose tariffs
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Although the pharmaceutical industry escaped the tariffs that Trump imposed during his first term, the president now argues that the United States needs more drug manufacturing so it does not have to rely on other countries for its supply of medicines.
US begins probes into pharmaceutical and chip imports, setting stage for tariffs | Business
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The news suggested possible relief for tech companies concerned by Trump's 145% tariffs on all goods from China.
US stocks close higher amid Trump tariff exemptions for electronics
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Trump’s flexibility has also fueled a sense of uncertainty and confusion about his intentions and end goals.
Trump considers pausing his auto tariffs to give carmakers more time
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But such relief may ultimately prove fleeting.
Stocks rally worldwide after Trump eases some of his tariffs on electronics, for now
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Trump’s announcements have caused fluctuations in the stock market this month, with indexes dropping before the partial tariff pause.
5 Companies Sue Trump Over Tariffs
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Perhaps more importantly for Wall Street, the bond market showed signals of increasing calm as Treasury yields eased.
How major US stock indexes fared Monday, 4/14/2025
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Trump’s so-called Liberation Day tariffs of at least 10% on imports from most countries, and higher rates for scores of other nations, are devastating small businesses across the country.
U.S. businesses sue to block Trump tariffs, say trade deficits are not an emergency
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The 25% tariffs on foreign-made cars, which Mr. Trump designed with the intention of reshoring auto manufacturing to the U.S., is likely to boost car prices by thousands of dollars, experts say.
Trump considers pause on auto tariffs to give carmakers more time to relocate production
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While Trump has characterized his willingness to provide tariff relief as a sign he is willing to be flexible, Democrats have described the moves to provide relief for certain industries as chaotic and corrupt.
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An exemption on some auto tariffs ‒ which include 25% levies on all foreign cars and light trucks as well as some auto parts ‒ could be a major reprieve for automakers as the industry grapples with tariffs that threaten to raise prices of cars for American consumers.
Auto industry could get exemptions from tariffs, Trump says
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Trump’s flexibility has also fueled a sense of uncertainty and confusion about his intentions and end goals.
Trump considers pausing his auto tariffs as the world economy endures whiplash
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Depending on how the tariff war plays out, a price hike could cause many of us to reconsider purchasing a new iPhone, especially amid economic uncertainty.
How Much Could Tariffs Increase iPhone Prices? We Do the Math
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Nvidia's new US manufacturing initiative is ambitious in scope—the company aims to produce up to half a trillion dollars of AI infrastructure in the United States over the next four years.
Amid Trump tariff chaos, Nvidia launches AI chip production on US soil
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Despite the partial recovery on Monday's opening, global stock markets are still lower than before Trump's "Liberation Day" tariff announcement on 2 April.
US stock markets rise on Trump tariff rollback
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The market reaction suggests investors believe the administration is showing greater awareness of the potential fallout from its trade policies — particularly on inflation-fatigued consumers who rely on smartphones, laptops, and other electronics.
Tech stocks surge after Trump pauses tariffs on phones, electronics
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McIlroy made history as only the sixth golfer to secure all four major championships, alongside legends like Jack Nicklaus and Tiger Woods.
Trump looks to impose more tariffs in 'near future'
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The questions on tariffs that will soon impact the semiconductor industry came after the president posted on Truth Social that the National Security Tariff Investigations will be looking at semiconductors and "the WHOLE ELECTRONICS SUPPLY CHAIN."
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Futures Rally, Tech Jumps on Tariff Reprieve for Some Electronics
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Summary
In a significant escalation of US-China trade tensions, Nvidia announced a $500 billion investment in domestic AI chip manufacturing in Texas and Arizona. Concurrently, the Trump administration initiated investigations into semiconductor and pharmaceutical imports under national security grounds, potentially leading to new tariffs. These inquiries, part of Section 232 of the Trade Expansion Act, come as Trump plans to announce specific rates for semiconductor tariffs soon. Meanwhile, US stocks surged following a temporary tariff exemption for electronics. Analysts remain concerned about the broader implications for market stability amid ongoing trade volatility.
Perspectives
US markets are responding positively to the announcement of tariff exemptions on electronics such as smartphones and computers; however, there are concerns about the temporary nature of these exemptions.
Despite market gains, there remains significant uncertainty regarding the future of trade relations with China and potential tariffs on semiconductors.
While there is a relief rally in stocks, the overall market conditions are still exhibiting a downward trend compared to pre-announcement levels.
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