Trump will explain tariffs on electronics on Monday

The administration announced late Friday that some electronics were exempt.

President Donald Trump on Sunday said there will be no exceptions for tariffs on electronics and that he would clarify his administration's policy on Monday.

U.S. Customs and Border Protection announced late Friday that some smartphones, computers, chips and other electronics would be exempted from tariffs, but Trump's top economic advisers hit the Sunday talk shows to explain the policy, saying that tariffs against electronics would be coming in the next month or two.

“There was no Tariff ‘exemption’ announced on Friday," Trump posted Sunday afternoon, and that semiconductor tariffs will “just be moving to a different Tariff ‘bucket.’”


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Xi says tariffs will only isolate US, touts EU cooperation

Chinese president Xi Jinping warned Friday that President Donald Trump's tariffs will "isolate" the U.S. from the international community.

During his meeting with Spanish Prime Minister Pedro Sanchez in Beijing, Xi said, "There is no winner in a tariff war, and going against the world will only result in self-isolation."

"For more than 70 years, China's development has always relied on self-reliance and hard work," he added, as quoted by the official state Xinhua News Agency. "It has never relied on anyone's gifts, let alone been afraid of any unreasonable suppression."

"No matter how the external environment changes, China will have firm confidence, maintain determination and concentrate on doing its own things well," Xi continued.

Xi also took the opportunity to play up China's ties with the European Union -- a relationship that suffered major setbacks in the midst of COVID-19 and Russia's war on Ukraine. But Trump's return to office -- and his sweeping tariffs campaign -- has raised the possibility of a Beijing-Brussels thaw.

"China has always regarded the European Union as an important pole of the multipolar world and is a major power that clearly supports the unity and development of the EU," he said.

"Under the current situation, it is of great practical significance to jointly build the four major partnerships of peace, growth, reform and civilization between China and Europe," Xi added.

"China and Europe should adhere to the positioning of partners and adhere to open cooperation."

-ABC News' Karson Yiu


Senators introduce bill to repeal tariffs

Senate Finance Committee ranking member Ron Wyden, D-Ore., and Sen. Rand Paul, R-Ky., introduced a bill Thursday that would repeal Trump's tariffs.

The bill, which is co-sponsored by Sens. Chuck Schumer, D-N.Y., Tim Kaine, D-Va., Jeanne Shaheen, D-N.H., Peter Welch, D-Vt., and Elizabeth Warren, D-Mass., will receive a vote on the floor shortly after the Senate returns from a state work period later this month, according to Wyden's office.

"Congress can’t sit on its hands while he slaps a new 10 percent tax on everything families buy, and leaves businesses and seniors in limbo until the next tariff flip flop. Congress needs to pass our bipartisan bill, end the tariff rollercoaster, and restore Congress’ Constitutional authority over trade," Wyden said in a statement.

"Abusing emergency powers to impose blanket tariffs not only drives up costs for American families but also tramples on the Constitution. It’s time Congress reasserts its authority and restores the balance of power," Paul said in a statement.


Trump says he's not considering tariff exemptions for companies

Trump said he's not considering any tariff exemptions for companies, but left the door open, claiming there is a lot of "flexibility."

"We don't have that situation now. People understand what we are and what we are going to do, but it could happen," he said.


Trump says if deals aren't reached, higher tariffs will come back

Trump said on Thursday that he thinks he would return to the higher tariff rates he unveiled last week if he doesn't reach a deal with nations affected within the next 90 days.

"If we can't make the deal we want to make or we have to make or that's, you know, good for both parties -- it's got to be good for both parties -- then we go back to where we were," Trump said.

When asked if he would extend the 90-day pause, Trump said, "We'll have to see what happens at the time."