The administration of US President Donald Trump has decided not to impose new reciprocal tariffs on a range of electronic devices, including smartphones and laptops. This decision also applies to hard drives, monitors, certain chips, and semiconductor manufacturing equipment.
This is reported by Finway
Thanks to this move, the mentioned goods will not be subject to the 145% tariff on Chinese products and the basic 10% tariff on imports from other countries. The market is expected to react positively to this reduction in tariffs, which will likely benefit the stocks of technology companies as early as Monday. Additionally, this decision may alleviate consumer concerns about rising prices for electronics.
Shifting Production to the US
Despite the cancellation of tariffs, the Trump administration continues its course to relocate the production of critically important technologies to the United States. As noted by White House Press Secretary Caroline Levitt, companies such as Apple, TSMC, and Nvidia have already committed to investing in American manufacturing.
In particular, Apple announced in February plans to invest $500 billion in the US and create 20,000 jobs over the next four years.
Reaction to the Introduction of Tariffs
It should be noted that US President Donald Trump announced on April 2 the introduction of tariffs on goods imported into the United States from around the world. This led to a decline in indices on leading global markets, a decrease in the value of the dollar, and concerns about a potential global recession. Trump justified his actions by the need to protect the interests of the US and American companies.
However, on April 9, Trump announced a 90-day pause in the implementation of tariffs and a “significant reduction” in reciprocal tariffs with 75 countries.