Dhaka, April 13 — The Trump administration declared on Friday evening that it would grant exemptions for specific electronic items, such as smartphones and laptops, from reciprocal tariffs.
The relocation is anticipated to alleviate stress on consumers and provide a lift to key technology companies such as Apple, Samsung, and semiconductor manufacturers including Nvidia, according to AP.
The US Customs and Border Protection has announced that certain products such as smartphones, laptops, hard drives, flat-screen monitors, and specific types of microchips will not be subject to the present 145% duties imposed on merchandise coming from China, nor the 10% taxes levied on imports from other nations. Equipment used for semiconductor fabrication processes will similarly receive an exemption.
Later on Saturday, during his journey to Miami, Trump stated that he would provide additional information about the exemptions early next week.
Despite President Trump’s China tariffs, Apple is not likely to start manufacturing iPhones in the U.S.
We will be quite precise,” he informed reporters aboard Air Force One. “However, we are generating substantial revenue. As a nation, we are earning a considerable amount of money.
This action was taken following worries expressed by American technology firms that the cost of electronic devices might rise significantly, since numerous products are manufactured in China.
Exemptions – retroactive to April 5 – also encompass various electronic devices and parts such as semiconductors, solar cells, and memory cards, according to BBC.
Previously, Trump claimed that the trade war might push Apple into manufacturing iPhones in the United States. However, industry analysts have consistently questioned this possibility due to Apple’s intricate supply chain in China.
Moving iPhone manufacturing elsewhere would necessitate several years of preparation and massive financial investments, which could increase the device’s price threefold and significantly reduce its sales. This latest exception mirrors support actions provided during President Trump’s initial term, when comparable duties were enforced.
During his second term, Trump adopted a more assertive stance on tariffs, leading to a downturn in the markets. The collective market capitalization of what’s known as the “Magnificent Seven” technology companies—comprising Apple, Microsoft, Nvidia, Amazon, Tesla, Google’s parent company Alphabet, and Facebook’s parent firm Meta—plummeted by $2.1 trillion, representing a 14% decrease from their peak on April 2 following the announcement of extensive tariff measures. However, this decline was somewhat mitigated afterward; once Trump suspended some tariffs outside of China last week, the reduction in these firms’ total worth decreased to approximately $644 billion.
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