Electronics imported to the US will not face the new tariffs announced by President Donald Trump, according to a notice from US Customs and Border Protection posted on Friday.
The exemption includes smartphones, computer monitors, and other electronic parts. It applies to goods entering the US or leaving warehouses starting April 5.
Earlier this week, Trump imposed a 145 per cent minimum tariff on many Chinese imports. However, this exemption does not cover the separate 20 per cent tariff related to China’s role in the fentanyl trade.
The decision is big news for tech companies like Apple, which relies heavily on China for production. Around 90 per cent of iPhones are made and assembled in China, according to Wedbush Securities.
Wedbush called the move “the best news possible for tech investors,” adding that major companies like Apple, Microsoft, and Nvidia will feel relief.
The White House said Trump still wants US tech firms to bring production back home.
“America cannot rely on China to make key tech products,” said White House press secretary Karoline Leavitt. She added that companies like Apple and Nvidia are now working to move their manufacturing to the US, with help from major investments encouraged by the President.
