The Trump administration late Friday said it would exclude electronics like smartphones and laptops from reciprocal tariffs, a move that could help keep the prices down for popular consumer electronics that aren’t usually made in the U.S.
The move would also benefit big tech companies like Apple and Samsung, and chip makers like Nvidia.
U.S. Customs and Border Protection listed some 20 products that would qualify for the exemption. They include hard drives, memory chips, flat-panel monitors and solid-state storage devices, as well as machines used to make semiconductors.
That means they won’t be subject to the current 145 per cent tariffs levied on China, or the 10 per cent baseline tariffs elsewhere.
Trump previously said he would consider exempting some companies from tariffs.
The move takes off “a huge black cloud overhang for now over the tech sector and the pressure facing U.S. Big Tech,” said Wedbush analyst Dan Ives in a research note.
Neither Apple nor Samsung responded to a request for comment early Saturday. Nvidia declined to comment.
