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In the latest round of the Trump tariff saga that has economists around the world on the edge of their seats, the U.S. released updated guidelines on Friday exempting specific technology devices, such as laptops, smartphones, and machines needed to make semiconductors, from reciprocal tariffs imposed by the U.S. The new tariff guidelines exclude a range of electronics, including laptops, semiconductors, solar cells, flat-panel displays, flash drives, memory cards, and solid-state drives. However, while these products are currently exempt, future duties remain possible. China’s Ministry of Commerce called the exemptions “a small step by the U.S. towards rectifying the misguided approach of unilateral ‘reciprocal tariffs’” and added that Beijing was still reviewing its impact. The Ministry took the opportunity to repeat its heavy criticism of the U.S. tariffs, insisting that Washington was “severely disrupting the international economic and trade order” and “harming others without benefiting itself.” It also called on the U.S. to: “Take a significant step towards rectification, completely abandon the erroneous ‘reciprocal tariffs’, and return to the right path of mutual respect and resolving differences through equal dialogue.” 145% tariffs hit tech companies like Apple particularly hard The exemption provides temporary relief to companies like Apple, which manufactures over 90% of its products in China, including iPads and Mac computers. Without the exemptions, Apple may have had to increase the price of its U.S.-sold iPhones by up to 85% to maintain profit margins. The company had already taken emergency measures by chartering flights to ship millions of iPhones from India to the U.S., aiming to mitigate the impact of potential tariffs. The Economic Times of India wrote: “Apple’s relationship with China, where it makes up to nine out of ten of its iPhones, turned Donald Trump’s so-called “Liberation Day” into six days of hell for the tech company.”…

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Filed under: News - @ April 13, 2025 8:21 pm