Last Updated Apr - 14 - 2025, 04:20 PM | Source : Fela News
U.S. Commerce Secretary Howard Lutnick confirmed that recent tariff exemptions on electronics like smartphones and laptops are temporary and will be replaced by
The recent tariff exemptions on electronics like smartphones and laptops, announced on April 11, 2025, are temporary, according to U.S. Commerce Secretary Howard Lutnick. These goods are exempt from reciprocal tariffs but will soon be included in upcoming semiconductor tariffs, likely within a month or two. President Trump later clarified that these items would still face a 20% tariff under his administration's broader measures against China.
The exemptions were initially seen as beneficial to major tech companies like Apple and Samsung, as well as chipmakers like Nvidia. Items such as smartphones, laptops, hard drives, and some chips will qualify, but semiconductor-making machines are excluded. The move follows several shifts in the administration's tariff strategy.
Despite initial hopes that the tariffs would prompt tech manufacturing to return to the U.S., experts predict this will not happen soon due to the immense cost and time involved. The uncertainty caused by these tariff changes has led to significant stock market volatility among major tech firms, with a market value drop of USD 2.1 trillion.
Jul - 08 - 2025
Jul - 08 - 2025
