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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Prices for goods made in China and sold on Amazon.com are rising at a pace faster than overall inflation, signalling the growing impact of U.S. tariffs on consumers, a new analysis by retail analytics firm DataWeave reveals.
Factory activity across much of Asia remained subdued in June as the uncertainty surrounding U.S. trade policy weighed heavily on manufacturing sentiment, even as some economies reported slight improvements in output.
Canada has scrapped its digital services tax targeting U.S. technology firms just hours before it was set to take effect, in a move aimed at reviving stalled trade negotiations with the United States.
U.S. President Donald Trump has abruptly ended trade negotiations with Canada, citing Ottawa’s plan to implement a digital tax targeting major tech firms.
The U.S. economy faces a 40% risk of recession in the second half of 2025, JP Morgan analysts said on Wednesday, citing rising tariffs and stagflation concerns.
A magnitude 5.5 earthquake struck off Japan’s Tokara Islands on Wednesday, with no tsunami warning issued but residents advised to remain vigilant.
The European Commission is set to propose allowing carbon credits from other countries to count towards the EU’s 2040 climate target, according to a leaked internal document.
China has ramped up efforts to protect communities impacted by flood control measures, introducing stronger compensation policies and direct aid from the central government.
Severe rain in Venezuela has caused rivers to overflow and triggered landslides, sweeping away homes and collapsing a highway bridge, with five states affected and no casualties reported so far.
Australia has finalised a AU $2 billion ($1.3 billion) purchase of U.S. made supersonic missiles, reinforcing its commitment to defence investment while stopping short of U.S. calls to adopt a higher military spending target.
U.S. President Donald Trump has announced a reduced 20% tariff on many Vietnamese exports, down from a previously planned 46%, in what he described as a new trade framework with Hanoi.
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Start your day informed with AnewZ Morning Brief: here are the top news stories for 3rd of July, covering the latest developments you need to know.
The United States has rescinded licensing restrictions on ethane exports to China, allowing shipments to resume after a temporary halt and signalling progress in efforts to ease recent trade tensions.
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