“The bell on a tiger’s neck can only be untied by the person who tied it,” China’s Ministry of Commerce said.
Billionaire investor Bill Ackman, who endorsed Trump’s run for president but who has criticized the tariffs, on Sunday called on him to pause the broad and steep reciprocal tariffs on China for three months, as he did for most countries last week.
“If President Trump were to pause the China tariffs for 90 days and reduce them temporarily to 10 percent, he would achieve the same objective in causing US businesses to relocate their supply chains from China without the disruption and risk to these businesses in the short term, and he would have time to negotiate a deal with China,” Ackman wrote on X.
‘CHANGES EVERY DAY’
Sven Henrich, founder and lead market strategist for NorthmanTrader, was harshly critical of how the tariff issue was being handled on Sunday.
“Sentiment check: The biggest rally of the year would come on the day Lutnick gets fired,” Henrich wrote on X. “I suggest the administration figures out who controls the message, whatever it is, as it changes every day. US business can’t plan or invest with the constant back and forth.”
US Senator Elizabeth Warren, a Democrat, criticized the latest revision to Trump’s tariff plan, which economists have warned could dent economic growth and fuel inflation.
“There is no tariff policy – only chaos and corruption” Warren said on ABC’s “This Week.”
In a notice to shippers late on Friday, the US Customs and Border Protection agency published a list of tariff codes excluded from the import taxes. It featured 20 product categories, including computers, laptops, disc drives, semiconductor devices, memory chips and flat panel displays.
For the Chinese imports, the exclusion of the tech products applies only to Trump’s reciprocal tariffs, which reached 125 percent this week. Trump’s prior 20 percent duties on all Chinese imports that he said were related to the fentanyl crisis remain in place.
Source: Channel News Asia