The US Customs and Border Protection announced exemptions for smartphones, laptops, and computer parts from the latest tariffs on imports from China. Major companies like Apple and Nvidia will benefit. However, President Trump hinted at impending tariffs on semiconductors and smartphones, expected to be introduced shortly. Commerce Secretary Howard Lutnick mentioned that these new tariffs aim to incentivize US production but may lead to higher consumer prices. Trump also noted possible flexibility for certain tech firms to mitigate impacts on their businesses.
Smartphones, laptops and computer components will be exempt from the Trump administration's latest round of tariffs, as issued by US Customs and Border Protection.
The exemption may be short-lived as President Trump plans to announce new tariffs on semiconductors and smartphones shortly.
Commerce Secretary Howard Lutnick noted that the goal of these new tariffs is to bring production back to the US, which will raise prices for consumers.
Trump has indicated there will be 'flexibility with some companies in the sector,' potentially easing the impact for major tech players like Apple.
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