Trump Administration Exempts Electronics from Tariffs, Easing Tech Sector Concerns

The Trump administration announced that popular consumer electronics, including smartphones and laptops, will be excluded from tariffs, benefiting tech giants like Apple and Samsung. This decision acknowledges the Asian-centric supply chain and aims to alleviate pressure on the tech sector.

The Trump administration announced late Friday that electronics such as smartphones and laptops will be excluded from reciprocal tariffs, a decision aimed at keeping prices down for popular consumer items typically manufactured outside the US.

This exemption will benefit major tech companies like Apple and Samsung and chip manufacturers like Nvidia, according to US Customs and Border Protection. Despite the high tariffs imposed on China, and elsewhere, items including smartphones, laptops, and certain chips will qualify for the exclusion, implying these goods won't face the heavy levies.

In its ongoing effort to encourage domestic manufacturing, the Trump administration has made several tariff policy changes. However, this move appears to concede that shifting the current electronics supply chain, largely based in Asia, to the US seems challenging at present. The tech sector, facing significant tariff pressure, receives relief from this decision, as highlighted by Wedbush analyst Dan Ives.

(With inputs from agencies.)