US Trade Representative: Will levy tariffs on semiconductors from China

Citing a filing from the US Trade Representative's office, Reuters reported on Tuesday that the US will set new tariffs on semiconductors from China. According to the document, the initial tariff level of 0% will increase in 18 months to a rate to be announced later.

Market reaction

This headline failed to trigger a noticeable market reaction. At the time of press, the S&P 500 Index was down 0.07% on the day, while the Nasdaq Composite was losing 0.2% at 25,411.40.