Temporary Tariff Exemption for Electronics Could Lead to New Semiconductor Duties Soon
Commerce Secretary Howard Lutnick reveals upcoming semiconductor tariffs, stressing the temporary nature of current exemptions on electronics amid ongoing U.S.-China trade tensions.
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With Trump’s latest comments, that now may have been premature, and the world’s two largest economies remain locked in a bitter struggle.
Trump warns China ‘not getting off the hook’ on US tariffs for electronics
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The return of tariff uncertainty on Sunday following Mr. Lutnick’s remarks pared the weekend optimism for tech stocks and left traders scratching their heads once again about the future of American trade policy.
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The administration has introduced tariffs to push companies to invest in American manufacturing.
Trump official says tariff exemptions will only last a 'month or two'
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The Trump administration has held steady that tariffs will strengthen the US economy by boosting manufacturing and protecting jobs.
Trump trade policies face pushback as recession fears grow | Business
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After initially dropping on the April 2 tariff plan unveiling, the S&P 500 rose 9.5 percent—its highest single-gain day since October 2008—on Wednesday after Trump announced his 90-day pause on most tariffs.
Lutnick Says Exempted Electronic Products Will Face Separate Tariffs
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Despite the chaos and apparent flip-flopping, Navarro claimed the tariffs are “unfolding exactly like we thought it would in a dominant scenario.”
More Chaos: Trump Admin Signals New Tariffs on Electronics from China After Pause
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The temporary reprieve was widely seen as a climbdown after pressure from Republican leaders concerned that the soaring cost of smartphones would spark a voter backlash.
US stock markets expected to recover after Trump drops tariffs on mobiles
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Trump Aides: Tariff Exemptions on Chips Temporary
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However, his interventions have seen massive fluctuations in the stock market and raised fears of a decrease in global trade that could have a knock-on effect on jobs and individual economies.
Trump tariffs: China urges US to 'completely cancel' import taxes
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The administration's clarification comes after a U.S. Customs and Border Protection bulletin was posted Friday night outlining key electronics -- smartphones, computers, solar cells, flat-panel TV displays and semiconductor-based storage devices, among others -- would be exempt from the tariffs announced since April 2.
Commerce Secretary Lutnick says tariff exemptions for electronics are only temporary
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The exemption seemed to reflect the president’s realization that his China tariffs are unlikely to shift more manufacturing of smartphones, computers and other gadgets to the U.S. any time soon, if ever, despite the administration’s predictions that the trade war prod Apple to make iPhones in the U.S. for the first time.
Trump administration says it will exclude some electronics from tariffs
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Economists have warned that the sweeping nature of Trump’s tariffs—which apply to a broad range of common US consumer goods—threaten to fuel US inflation and hit economic growth.
After market tumult, Trump exempts smartphones from massive new tariffs
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Summary
President Trump announced a temporary exemption for smartphones and high-end electronics from steep tariffs, intended to encourage U.S. manufacturing. However, Commerce Secretary Lutnick clarified these exemptions are short-term, and new tariffs targeting semiconductors will be introduced in a month or two. The aim is to reduce dependency on foreign manufacturers. Despite ongoing tariff negotiations and concerns from economists about inflation and economic impacts, Lutnick remains optimistic about finding a resolution with China. Current tariffs on Chinese imports remain significant, causing volatility in the stock market and renewed uncertainty for the tech sector.
Perspectives
The Trump administration's exemption of smartphones and certain consumer electronics from tariffs is seen as a temporary relief, with upcoming semiconductor tariffs likely to complicate the market further.
Analysts remain skeptical, highlighting that while this exemption temporarily eases price concerns, the ongoing uncertainty surrounding tariff policy could adversely affect long-term market stability.
The exemption aids major industry players like Apple by preventing immediate price hikes, but raises alarm over potential future tariffs and their inflationary impact on the economy.
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