Donald Trump has said that Chinese-made smartphones and other electronics will not be exempt from tariffs, adding that they are simply being transferred to another "levy bucket", the BBC reports.

European stock markets bounced higher after the official announcement that some of these products would avoid levies of up to 145%.

China has called on Donald Trump to "completely abolish" its tariff regime and "return to the right path of mutual respect".

On Sunday (13.04), however, US officials said the products would instead be subject to "semiconductor duties", with Trump expected to reveal more details later.

U.S. Commerce Secretary Howard Lutnick said the new levy would be in addition to a raft of global duties the U.S. imposed earlier this month, then suspended for 90 days.

"We need our drugs, semiconductors and electronics to be made in America," he added.

A USA customs notice revealed that smartphones, computers and some other electronic devices would be excluded from the 125% tariff on goods imported into the country from China.

But Trump took to social media to announce that there is no exemption for these products and called such reports about this notice false. Instead, he pointed out that "they are just being moved to another customs 'bucket.

Trump added, "In upcoming national security duty investigations, we are looking at semiconductors and the ENTIRE SUPPLY LEVEL OF ELECTRONICS."

He announced that he would provide an update on semiconductor duties.

Everyday devices like smartphones and laptops rely on semiconductors, which are small and powerful pieces of technology that form the basic building blocks of modern computing.

Sony announced it was increasing the price of its flagship PlayStation 5 game console by about 10% in Europe, Australia and New Zealand, citing a "challenging economic environment", inflation and currency fluctuations. The company reported no price increases in the United States.

China's Ministry of Commerce called Trump's exemptions a "small step" by the U.S. and noted that Beijing is "assessing the impact" of the move.

But the hint by Trump administration officials of plans for future levies could dampen hopes of a thaw in the two rivals' protectionist stance.

U.S. Trade Representative Jameson Greer was asked if Trump had plans to talk with his Chinese counterpart Xi Jinping.

"Right now, we don't have any plans to do that," he replied during an appearance on CBS's "Face the Nation."

Trump imposed a 54% duty on Chinese imports in early April before escalating to the current rate of 145%.

In its own tariffs, China imposed levies of 34% on US goods before increasing them to 84% and then to 125%, which came into effect on Saturday (12.04).

In announcing its latest duties, China's commerce ministry said last week it would "fight to the end" if the US "insists on provoking a tariff or trade war".

While traveling to Miami, Florida, Trump announced he would give more details on the exemptions early next week.

The White House says it's using the tariffs as a negotiating tactic to elicit more favorable trade terms from other countries.

Trump has argued that his policies will correct inequities in the global trading system as well as bring jobs and factories back to the United States.

However, his interventions have led to huge fluctuations in the stock market and raised fears of a reduction in global trade, which could have a knock-on effect on jobs and individual economies. | BGNES