It’s a move that could help keep prices down for popular consumer electronics that aren’t usually made in the U.S.
The Trump administration announced on Friday that they will not impose reciprocal tariffs on electronics such as smartphones and laptops. This decision is aimed at preventing price increases for popular consumer electronics that are primarily manufactured outside of the U.S.
It would also benefit big tech companies like Apple and Samsung and chip makers like Nvidia.
U.S. Customs and Border Protection specified that items like smartphones, laptops, hard drives, flat-panel monitors, and certain chips will be exempt from the tariffs. Additionally, machinery used in semiconductor production will also be excluded. As a result, these products will not be affected by the existing 145% tariffs applied to imports from China or the standard 10% tariffs imposed on goods from other countries.
Trump previously said he would consider exempting some companies from tariffs.
This development has been welcomed by industry experts like Wedbush analyst Dan Ives, who stated that it alleviates significant concerns hovering over the technology sector and eases pressure on major U.S. tech companies.
Neither Apple nor Samsung responded to a request for comment early Saturday. Nvidia declined to comment
