Trump says he can predict the future after markets’ reaction to tax waivers on some electronics

Donald Trump has bizarrely claimed to be able to predict the future after the markets reacted positively on Monday to his decision to exclude smartphones and other electronics from the ultra-high levies on goods imported from China.

“THE BEST DEFINITION OF INTELLIGENCE IS THE ABILITY TO PREDICT THE FUTURE!!!” he posted on Truth Social.

The president has otherwise insisted that no country is “off the hook” for “unfair trade balances” ahead of his expected new tariffs on powerful computer chips.

Trump further said those goods would not be exempted from duties entirely, rather they had been put in a new “tariff bucket” and remain subject to the broad 20 per cent hike the White House had previously placed on Chinese goods in its fight against fentanyl.

Commerce Secretary Howard Lutnick made clear that critical technology products from China would face separate new duties along with semiconductors within the next two months.

Trump said he wants companies to make chips and semiconductors in the US so the American economy is not “held hostage” by other countries.

The Independent