“If the US says one thing but does another, or even attempts to use negotiations as a pretext to continue coercive and blackmailing tactics, China will never agree, nor will it sacrifice its principles or international fairness and justice to seek any agreement,” the Ministry said.
For US chipmakers who are still waiting for Trump to release his semiconductor tariff plan, the trade talks will likely be watched closely. Ahead of talks, Nvidia, AMD, Super Micro, and Marvell have warned investors of potentially billions in lost revenue, with some postponing further investor guidance until after the tariff plan is revealed, CNBC reported.
Other tech giants both inside and outside the US are also reportedly scrambling, even if they aren’t completely reliant on China-based production.
Despite exemptions on smartphones and a plan to shift production of US-destined products into India, Apple recently estimated that tariffs could add $900 million in costs in this quarter alone, the BBC reported.
So far, there are no clear winners in Trump’s trade war. South Korea-based Samsung—which has a Vietnamese production hub subject to 46 percent tariffs—was expected to potentially gain from any Apple losses. But an executive on a recent earnings call warned investors that “there are a lot of uncertainties ahead of us,” CNBC reported.
Due to the rapid changes in policies and geopolitical tensions among major countries, it’s difficult to accurately predict the business impact of tariffs and countermeasures,” the Samsung executive said.
And although trade talks could dramatically shift global markets again, the CTA warned that “ongoing reviews of semiconductors and downstream products in the electronics supply chain, copper, lumber, critical minerals, and other materials” could potentially add to cost pressures and trigger even more price hikes for Americans.