The details of President Donald Trump’s tariffs have changed a lot over the past few days. Now, it looks like a large number of electronic products, including most smartphones, will be excluded from the new tariffs.
According to guidelines released from the Customs and Border Protection Agency on Friday, 20 products are exempt from 125% tariffs on Chinese imports, as well as the latest baseline tariffs on imports from other countries. There is nothing to say about the current 20% tariff on Chinese goods. Exempted products include smartphones, computers, semiconductors and flat panel display modules. Meanwhile, China’s tariffs on U.S. imports have increased by 125%.
Update: All tax prices have risen so far
“President Trump made it clear that the United States cannot rely on China to make key technologies such as semiconductors, chips, smartphones and laptops,” White House Deputy Press Secretary Kush Desai told CNBC.
Mixable light speed
“In the direction of the president, these companies are manufacturing onshore in the U.S. as soon as possible,” Desai said in a statement.
CNBC reported earlier this week that people responded to the 125% tariff proposed earlier this month to buy iPhones, fearing they would technically value once the tariffs were met. Apple is expected to encounter major difficulties. At least for the time being, this new tariff drop may be good news for Apple.
