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US Commerce Secretary Howard Lutnick said on Sunday that new tariffs would be imposed on smartphones, computers, semiconductors and some other electronic devices within the next two months. A day earlier, the Trump administration had announced exemption of several other electronic goods including smartphones, laptops and computers from reciprocal tariffs. Since the US imports a large amount of electronic goods from China, the new decision of the Trump administration has also exempted China from the 125 percent reciprocal duty on these products.
Relief to tech companies
The move was seen as a major relief for tech companies like Apple and Dell, which are dependent on imports from China. Lutnick's comments on ABC's This Week program are being seen as a U-turn in President Donald Trump's tariff plans. Earlier, Trump had announced to postpone reciprocal tariffs on more than 75 countries for 90 days and keep electronic products out of the reciprocal tariffs.
Preparing for new charges
Trump's tariff plans have created turmoil in the global financial market. Lutnick said Trump will impose a specific type of tariff on smartphones, computers and other electronic products in a month or two. He will also impose new tariffs on semiconductors and pharmaceuticals. These new duties will be outside Trump's reciprocal tariffs.
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