The administration announced late Friday that some electronics were exempt.
President Donald Trump on Sunday said there will be no exceptions for tariffs on electronics and that he would clarify his administration's policy on Monday.
U.S. Customs and Border Protection announced late Friday that some smartphones, computers, chips and other electronics would be exempted from tariffs, but Trump's top economic advisers hit the Sunday talk shows to explain the policy, saying that tariffs against electronics would be coming in the next month or two.
“There was no Tariff ‘exemption’ announced on Friday," Trump posted Sunday afternoon, and that semiconductor tariffs will “just be moving to a different Tariff ‘bucket.’”
Billionaire Trump supporter Bill Ackman is calling for a 90-day pause so the president can "accomplish his objectives without destroying small businesses in the short term."
In a lengthy post on X, Ackman warns that if Trump "doesn't pause the effect of the tariffs soon, many small businesses will go bankrupt."
"Medium-sized businesses will be next," Ackman added.
China on Wednesday said it would increase its reciprocal tariffs on U.S. goods to 84% from the previous 34%, per a statement from the country's Finance Ministry.
The ministry's statement said escalating U.S. tariffs were a "mistake," adding: "China urges the U.S. to immediately correct its wrong practices, cancel all unilateral tariff measures against China and properly resolve differences with China through equal dialogue on the basis of mutual respect."
The measure came after President Donald Trump's additional tariffs on Chinese goods came into force just after midnight, bringing the total rate of tariffs on Chinese goods to 104%.
-ABC News' Karson Yiu
Chinese Foreign Ministry spokesperson Lin Jian told reporters at a Wednesday briefing that Beijing "will continue to take resolute and strong measures" in the face of President Donald Trump's latest tariffs.
China, Lin said, "stands ready to work with all parties to uphold multilateralism" and promote "globalism."
"We will not let anyone take away the Chinese people's legitimate right to development," Lin said. "We will not tolerate any attempt to harm China's sovereignty, security and development interests. We will continue to take resolute and strong measures to safeguard our legitimate rights and interests."
"China stands ready to work with all parties to uphold true multilateralism, jointly oppose various forms of unilateralism and protectionism, diffuse risks, address challenges and promote a universally beneficial and inclusive economic globalization," Lin told reporters.
The imposition of tariffs, the spokesperson said, drives up costs of shipping, increases inflation, undermines global stability and "hurts" U.S. interests.
"We urge the U.S. to correct its wrong decision," Lin added.
-ABC News' Karson Yiu
A steep 104% tariff on most imports from China went into effect early Wednesday morning, along with levies on dozens of other countries -- part of sweeping trade maneuvers from President Donald Trump that have roiled global financial markets.
The new tariffs were set to go into effect at 12:01 a.m. on Wednesday, one week after Trump first unveiled his "Liberation Day" tariff plan.
In addition to the steep levy imposed on Chinese, the U.S. is slapping tariffs on imports from dozens of other countries, including:
Under Trump's plan, the tariff on Chinese imports was originally set at 34%. Added to an existing 20% tariff on China, that brought the total rate to 54%. After Chinese officials announced retaliatory measures, the White House said the U.S. would raise the overall rate on Chinese imports by another 50% -- bringing it to a total of 104%.
The first phase of Trump's tariff plan - baseline 10% tariffs on imports from nearly all U.S. trading partners -- went into effect early Saturday.
