In an interview with ABC, Commerce Secretary Lutnick revealed that the U.S. will soon impose sector-specific tariffs, starting with electronics and semiconductor-related products. He said these items will fall under a dedicated category and are likely to face special tariffs within the next month. Pharmaceutical products will also be included in the upcoming round of tariffs, expected to be announced in the next month or two.
Lutnick also mentioned that the U.S. has had limited, indirect communication with China regarding the tariffs, describing them as “soft entrees” through intermediaries. Despite the rising trade tensions, he stated that there is no major concern about the U.S. dollar’s stability at this time.
Commerce Secretary Lutnick explained that while the products are temporarily exempt from reciprocal tariffs, they will still face new semiconductor-related tariffs in the next month or two. He also said these exclusions are not permanent and shouldn’t be viewed as long-term.
Lutnick said the Trump Administration is prioritizing domestic production of pharmaceuticals and semiconductors, even though the recent tariff exclusions appear to be temporary.
Weekend Dow futures dropped over 250 points from the day’s high, while Weekend Nasdaq futures slipped more than 300 points in the last hour after Lutnick’s comments on upcoming tariffs.
Note: Weekend futures are unofficial, low-volume trades offered by select platforms like IG or limited-access CME Globex, allowing investors to speculate on how markets might open on Monday. These trades aren’t part of official stock exchanges but give a sneak peek into market sentiment based on weekend news or global events.
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