U.S. President Donald Trump has announced plans to impose new trade tariffs on foreign semiconductors. This declaration came shortly after the White House had temporarily suspended certain tariffs affecting smartphones and other electronic devices. In response to this news, global stock markets began to recover from recent declines, although the U.S. dollar continued its downward trend. In Europe, officials stated that America’s trade policy is forcing them to consider resuming natural gas imports from Russia. Below is an overview of major international media coverage on the escalating trade tensions initiated by the United States.
NBC: U.S. to Impose Tariffs on Imported Semiconductors
On April 13, Donald Trump declared his intention to introduce tariffs on semiconductors imported into the country, adding that specific rates would be announced later in the week. This suggests that the recent exemption for smartphones and personal computers from the tariff list is likely temporary and will have limited long-term impact.
“Our goal is to make it easier for many companies, because we want to produce our chips, semiconductors, and other technologies domestically,” Trump told reporters. When asked if specific products, including smartphones, might still be exempt from new taxes, he responded, “You have to maintain some flexibility. Being overly rigid is not the way forward.”
Back on April 11, the U.S. administration had announced temporary exclusions from existing high tariffs, offering a glimmer of hope that the tech industry might avoid the worst consequences of the growing U.S.-China trade confrontation. There was also speculation that consumer goods such as laptops and smartphones might remain affordable. However, U.S. Commerce Secretary Howard Lutnick made it clear that within the next two months, a number of key Chinese tech products would be subjected to additional new tariffs — on top of those targeting semiconductors.
Financial Times: Markets Rally on Temporary Tariff Delay
On April 14, global markets saw an uptick in index performance, despite warnings from Washington that the delay in implementing new tariffs on consumer electronics was only temporary. Investors expressed hope that both U.S. consumers and the technology sector could be spared the worst fallout from the ongoing trade war. Hong Kong’s Hang Seng rose by 2.1%, Japan’s Nikkei 225 gained 1.2%, S&P 500 futures climbed 1.3%, and the Nasdaq 100 — heavily weighted with tech firms — rose 1.6% in early European trading.
Meanwhile, U.S. officials, including Trump himself, declined to elaborate on the extension of the reprieve, emphasizing that tariffs on electronics would still go into effect as part of a government investigation into semiconductor imports. The president posted on Truth Social: “No one will escape consequences for the unfair trade balance and the hidden barriers others — especially China — have imposed on us.”
Yields on 10-year U.S. Treasury bonds dropped by 0.03 percentage points, to 4.46%, still higher than the 4.17% level recorded before the “Tariff Reprieve Day” on April 2. Simultaneously, gold reached a new record high of $3,245.75 per ounce.
Reuters: U.S. Rhetoric Pushes EU Back Toward Russian Gas
During the 2022–2023 energy crisis, European Union countries were able to partially offset the loss of Russian gas supplies with imports of American liquefied natural gas (LNG). But now, as U.S.-EU relations cool and energy becomes a bargaining chip in trade talks, concerns are growing in Europe over increasing reliance on the United States.
Amid this climate, corporate leaders in the EU are beginning to consider what was previously unthinkable: resuming some imports of Russian gas, including from state-controlled giant Gazprom.
Talks with LNG supplier Qatar to boost volumes have stalled, and although the EU has accelerated its push for renewable energy, the pace is insufficient to guarantee energy security. Didier Holleaux, Executive Vice President at French firm Engie, said that if the conflict in Ukraine were to cease, Europe could import up to 70 billion cubic meters of Russian gas. Patrick Pouyanné, CEO of TotalEnergies, echoed this figure and warned that overdependence on U.S. gas could prove detrimental to Europe’s energy resilience.
Bloomberg: Dollar Continues to Slide Amid Tariff Uncertainty
The U.S. dollar hit a six-month low, driven by fears that inconsistency in the Trump administration’s tariff policy could prompt investors to withdraw from American assets. The Bloomberg Dollar Spot Index fell by 0.3%, reaching its lowest level since October 2024. Year-to-date, the index has dropped nearly 6%, amid escalating trade tensions with China and growing concerns over a potential economic slowdown in the U.S.
The dollar’s slide deepened following Trump’s Sunday announcement that despite the temporary delay, tariffs on smartphones, PCs, and other consumer electronics would still go into effect, framing the delay as a procedural step in broader trade reform. “No one is off the hook,” the president said in a social media post as trading opened in Asia.
Survey data shows that nearly 80% of market participants expect further dollar weakening within the next month — the highest percentage of “bearish” sentiment since such polls began in 2022. According to the Commodity Futures Trading Commission, dollar volatility remains near a two-year high, while speculative traders significantly increased short positions on the currency during the week ending April 8.
The New York Times: Importers No Longer Have a Safe Harbor
Amid recent logistical turmoil — from tariff barriers and the pandemic to disruptions at key shipping routes like the Panama and Suez Canals — multinational firms selling goods to the U.S. have increasingly sought to mitigate risks by diversifying production. During Trump’s first term, Apple began shifting iPad and AirPods assembly to Vietnam, while moving much of its iPhone manufacturing to India. Brands like Nike and Samsung also relocated parts of their supply chains from China to other countries to avoid U.S. tariffs.
However, the latest wave of tariffs announced by the White House this week appears to undermine these strategies. Chinese imports to the U.S. are now subject to duties of up to 125%, while Vietnamese goods may be taxed up to 46%, Cambodian exports up to 49%, and Indian products face tariffs of 27%.
While the temporary removal of some tariffs has hit China the hardest, importers are acutely aware that similar measures could be swiftly reimposed on other countries as well. This increases the likelihood of supply chain delays, leading to higher consumer prices. The current state of uncertainty severely hampers long-term logistics planning and makes building resilient supply networks increasingly difficult.