Group 1 - The Trump administration will announce the results of a national security investigation into semiconductor imports within two weeks, raising concerns about potential new tariffs on chips [1] - The investigation, initiated on April 13, focuses on the semiconductor industry and the entire electronic supply chain, potentially laying the groundwork for new tariffs under Section 232 of the Trade Expansion Act of 1962 [1] - Barclays has indicated that the timeline for imposing semiconductor tariffs is becoming clearer, with implementation likely after mid-August and no later than September [1] Group 2 - President Trump stated that many companies will invest in semiconductor manufacturing in the U.S. to avoid the impact of new tariffs, while the European Commission President has found a "better way" to circumvent the upcoming chip tariffs [2] - The U.S. has reached a 15% tariff agreement with the EU, which will increase investments in the U.S. by $600 billion and purchase $750 billion worth of U.S. energy products, while maintaining the current steel and aluminum tariffs [2] - The Trump administration is investigating the national security threat posed by reliance on foreign pharmaceuticals and semiconductor imports, alongside separate investigations into copper and lumber imports [2]

Core Viewpoint - The U.S. Customs announced a waiver on certain goods from "reciprocal tariffs," which is generally seen as a positive development for the tech industry, particularly for companies like Apple and Dell [1][7]. Group 1: Waiver Announcement - The waiver covers 20 product categories, including semiconductors, communication devices, smartphones, and display modules, effective retroactively from April 5, 2024 [6]. - The estimated value of the exempted products is around $100 billion, representing approximately 23% of U.S. imports from China in this category [7]. Group 2: Market Reactions - Analysts view the announcement as optimistic, providing temporary relief to major tech companies like Apple, Nvidia, and Microsoft, despite ongoing uncertainties regarding the "reciprocal tariffs" [7]. - The waiver is expected to alleviate some export pressures for China, as the tariff rate has reached 125% [7]. Group 3: Future Uncertainties - President Trump indicated that further details regarding the semiconductor tariff exemptions would be provided soon, suggesting potential changes in the future [3][9]. - A new national security trade investigation into semiconductors may lead to additional tariffs, indicating that the waiver does not eliminate the risk of future trade barriers [4][9]. Group 4: Economic Implications - Experts suggest that the tariff policy has reached a critical point, with concerns that continued tariffs could trigger a global financial crisis [8]. - The current situation reflects significant domestic and international pressures on U.S. trade policy, leading to a potential shift in strategy by the Trump administration [10].