President Donald Trump has issued new guidance from U.S. Customs and Border Protection exempting smartphones, computers, and other electronic devices from the 145% tariffs he imposed on products from China earlier this month. This move is a win for tech companies like Apple, which manufactures a majority of its products in China. Tech investors are pleased with the exemptions, as the tariffs had been a concerning issue for the industry. The exemptions are expected to help avoid significant financial losses for tech giants like Apple, which had lost over $640 billion in market value following Trump’s tariff announcement. The guidance also excludes other electronic devices and components such as semiconductors, solar cells, flat panel TV displays, flash drives, and memory cards. While these products may face additional duties in the future, the rates are likely to be much lower than the initial 145% rate imposed by Trump on goods from China. Overall, the exemptions are seen as a positive development for the tech industry and investors. Tech CEOs had spoken out against the tariffs, warning of potential harm to their businesses. This is a developing story and updates may follow.
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