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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President Donald Trump’s decision this morning to impose a new wave of U.S. import tariffs set off a flurry of statements from capitals around the world. While some governments secured last-minute concessions, others blasted the move as a destabilizing shock to the global trading system.
Southeast Asian nations expressed relief on Friday after the United States imposed tariffs on their exports that were significantly lower than anticipated- settling around 19% for the region’s largest economies and helping level the competitive field.
Eurozone bond yields jumped as U.S. President Donald Trump imposed tariffs on exports from multiple countries, adding pressure on inflation and reshaping expectations for central bank policy.
The U.S. and Pakistan have reached an agreement that includes reduced tariffs for Pakistan and a partnership in which the U.S. will assist in developing the country’s oil reserves, officials from both sides announced.
The world’s biggest dance music festival faces an unexpected setback as a fire destroys its main stage, prompting a last-minute response from organisers determined to keep the party alive in Boom, Belgium.
Australian researchers have created a groundbreaking “biological AI” platform that could revolutionise drug discovery by rapidly evolving molecules within mammalian cells.
Australian researchers have pioneered a low-cost and scalable plasma-based method to produce ammonia gas directly from air, offering a green alternative to the traditional fossil fuel-dependent Haber-Bosch process.
A series of earthquakes have struck Guatemala on Tuesday afternoon, leading authorities to advise residents to evacuate from buildings as a precaution against possible aftershocks.
'Superman' continued to dominate the summer box office, pulling in another $57.25 million in its second weekend, as theatres welcome a wave of blockbuster competition following a challenging few years for the film industry.
Syria is set to boost its daily electricity supply from around four hours to nearly ten, as natural gas from Azerbaijan begins flowing through a newly restored pipeline via Türkiye, according to a senior official from the Syrian Ministry of Energy.
Three Indigenous First Nations in Saskatchewan are receiving a combined CAD$431 million (US$313 million) in compensation from the Canadian government, marking one of the largest settlements to date over historic breaches of treaty commitments.
The United States has warned of reported attempts to bribe Haitian officials in a bid to destabilise the country, amid growing political turmoil and gang violence.
A federal jury in Miami has found Tesla partially liable for a fatal crash involving its Autopilot system, ordering the company to pay $243 million in damages.
U.S. President Donald Trump said he heard that India has stopped buying oil from Russia, describing it as a “good step” — though he admitted the information is unconfirmed.
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