- Many electronics U.S. consumers rely on such as smartphones, computers, tablets and TVs have been exempted from the steep tariffs that Trump imposed on China. The new guidance was detailed in a Customs and Border Protection memo issued late Friday evening.
- Apple, which was reportedly looking to move some of its manufacturing to India, houses around 80% of its production capacity in China.
- One analyst called the exemption a “game changer” that will stave off Big Tech’s “Armageddon.”
Full Story
Some of the most popular electronic consumer goods that are largely produced in China will not be subject to tariffs. In a U.S. Customs and Border Protection memo detailing updated tariff guidance issued late Friday evening, April 11, the Trump administration announced that smartphones, computers, TVs, flash drives, memory cards and more will be exempt from the 145% tariffs imposed on China earlier this month.
The same electronics will also be exempt from the various tariffs other countries are facing, but which have been paused for 90 days.
Download the SAN app today to stay up-to-date with Unbiased. Straight Facts™.
Point phone camera here
Tariff exemption a ‘game changer’ for big tech
The move is a big win for American consumers, some of whom rushed out to buy new iPhones and computers ahead of Trump’s “Liberation Day” on April 2, when he rolled out his comprehensive tariff plan.
Likewise, the news is a boon for tech giants such as Apple, which houses around 80% of its production capacity in China, according to estimates cited by IND Money. Ahead of Friday’s announcement, Apple was reportedly considering moving its manufacturing to India.
In an interview with CNBC, Dan Ives, global head of technology research at Wedbush Securities, called the updated guidance a “game changer” that will stave off “Armageddon” for Big Tech.
“This is the dream scenario for tech investors. Smartphones, chips being excluded is a game changer scenario when it comes to China tariffs,” said Ives.
He went on to add, “I think ultimately big tech CEOs spoke loudly, and the White House had to understand and listen to the situation that this would have been Armageddon for big tech if [it] were implemented.”
While the guidance was issued Friday, it is retroactively effective as of April 5, meaning any shipments that left warehouses and manufacturing plants since the tariffs were imposed will not be subject to them.
