Smartphones, computers, and semiconductors have been exempted from President Donald Trump’s “reciprocal” tariffs, according to updated guidance from the U.S. Customs and Border Protection.
According to reports, Trump had hinted at exemptions on Air Force One on Friday night, telling reporters that “there could be a couple of exceptions for obvious reasons, but I would say 10% is a floor” for tariffs.
The White House did not immediately respond to an Investopedia request for comment.
Apple and Other Device Makers Stand to Benefit From Exemptions
The news would benefit Apple (AAPL), which manufactures many of its iPhones and other electronics in China, as well as other device makers.
Trump’s executive actions call for 145% tariffs on imported goods from China, which has engaged in an escalating tit-for-tat with the U.S. Apple, whose shares are yet to fully recover from the hit taken since President Trump’s tariff announcement on April 2, did not immediately return a request for comment.
:max_bytes(150000):strip_icc()/GettyImages-2209006842-2151ecb31dbe48e3b102648d41d382f6.jpg?w=1200&resize=1200,0&ssl=1&description=Trump+Exempts+Smartphones%2C+Computers%2C+Chips+From+Tariffs){kind=link}