Trump exempts smartphones and computers from new tariffs | World News
US President Donald Trump’s adminration has exempted smartphones and computers from new tariffs, including the 125 per cent levy on Chinese imports.
According to a report BBC, US Customs announced the exclusions late Friday to prevent price hikes on popular electronics.
The decision follows concerns from tech giants like Apple and Samsung that gadget prices across the global markets could soar, given many are manufactured in China. The exemptions also cover various electronic devices and components, such as semiconductors, solar cells, and memory cards.
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It also come amid rapid escalation in the US-China trade conflict. On Saturday, China’s retaliatory 125% tariffs on US goods went into effect—just shy of the 145% duties the Trump adminration has now placed on Chinese imports. Beijing has also formally lodged a complaint with the WTO over the latest US tariffs, while dismissing President Donald Trump’s tariff threats as a “joke” and “a numbers game.”
The Chinese government said further retaliatory tariffs from the US would be ignored, arguing that the economic calculus no longer supports importing American goods under such conditions.
Trump, for his part, declared on Friday that his policies were “doing really well,” even as market turbulence intensified. Gold prices surged, US government bond yields dropped, and global stock markets continued to seesaw in response to the uncertainty.
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