Donald Trump stated that Chinese-made smartphones and electronics will not be exempt from tariffs but will instead fall under a different “semiconductor tariff” category.

This came after reports suggesting some products would escape a 145% tariff, which Trump called false.

The new tariff will target the electronics supply chain, with further details expected later.

China has urged Trump to cancel his tariffs, while U.S. officials emphasized the need for more domestic production of semiconductors and electronics, the BBC has reported.

Meanwhile, European markets rose following the tariff announcement, and Sony increased PlayStation 5 prices due to economic challenges.

Written by B.C. Begley