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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Iran on Saturday denounced U.S. plans to announce new sanctions that could put further strain on the Islamic Republic's economy and have an impact on its most important trading partners including China.
Ukraine’s President Volodymyr Zelenskyy said on Monday that Kyiv wants peace but will not surrender to Russia, as foreign leaders joined Independence Day events marking 35 years since Ukraine’s independence.
A newly created pro-government political party has secured a commanding victory in Kazakhstan's snap parliamentary election, according to exit polls, strengthening President Kassym-Jomart Tokayev's influence at a pivotal moment in the country's political transition.
Only four commodity vessels crossed the Strait of Hormuz on Sunday, following 13 transits a day earlier, as disruptions continue to restrict traffic through the key energy chokepoint.
Ukrainian President Volodymyr Zelenskyy has rejected calls for a wartime election, arguing that holding a vote while Russia's full-scale invasion continues would divide the country and undermine national unity.
Britain and France have pledged stronger military support for Ukraine, including access to classified technology for Storm Shadow missile production and faster deliveries of air defence missiles.
France and Saudi Arabia have agreed on plans for a $7 billion manga-themed amusement complex near Paris, inspired by the hugely popular Japanese franchise Dragon Ball Z.
Start your day informed with AnewZ Morning Brief. Here are the top news stories for the 25th of August, covering the latest developments.
The United States has formally removed Syria from its list of state sponsors of terrorism, ending a designation that had been in place for nearly five decades and marking a major step in Washington's efforts to rebuild relations with the country's new leadership.
The Trump administration has announced plans to revoke the temporary visitor visas of foreign nationals who entered the United States on tourist or business visas and later sought asylum, marking the latest expansion of Washington's immigration enforcement policies.
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