Electronics imported into the U.S. will be exempt from President Donald Trump’s new reciprocal tariffs, according to a U.S. Customs and Border Protection notice posted Friday. The exemption, effective from April 5, includes smartphones, computer monitors, and various electronic components.
This follows the Trump administration's imposition of a 145% minimum tariff on Chinese imports, a move that could have significantly impacted tech companies like Apple, which assembles about 90% of its iPhones in China. Analysts estimate Apple has about six weeks of U.S. inventory, after which prices could have risen.
Trump mentioned there could be “a couple of exceptions” to the tariffs. While the White House hasn't commented, economists warn the tariffs may increase consumer prices, prompting a surge in big-ticket purchases and a drop in consumer sentiment.
The administration argues the tariffs aim to boost U.S. manufacturing. However, some products like semiconductors, which are mostly made in Asia due to lower costs, are difficult to produce domestically. These too are now exempt, benefiting companies like TSMC, Samsung, and SK Hynix.
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India and the European Union have finalised a long-pending trade deal, both sides said on Tuesday, calling it the “mother of all deals” as they seek to hedge against uncertainty in U.S. trade ties.
Canadian Prime Minister Mark Carney said on Sunday that his government has no intention of pursuing a free trade agreement with China, pushing back against claims by President Donald Trump, who has threatened to impose sweeping tariffs on Canadian goods if Ottawa deepens trade ties with Beijing.
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Peru’s Congress has voted to censure and remove José Enrique Jeri Ore from his posts as President of Congress and acting President of the Republic, just four months into his tenure, citing undisclosed meetings with Chinese businessmen and alleged hiring irregularities.
France celebrated Olympic gold in the men’s biathlon relay in Anterselva on Tuesday (17 February), following a thrilling race marked by an electric atmosphere at the stadium.
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A South Korean court on Thursday sentenced ex-President Yoon Suk Yeol to life in prison for leading a failed 2024 martial law insurrection, making him the first elected leader in the country’s democratic era to receive the maximum sentence.
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