Smart phones and computers are among many devices and technological components that will be exempt from the new tariffs imposed by President Donald Trump, according to a new customs orientation and the border protection of the United States.
The guide, broadcast on Friday night, occurs after Trump earlier this month imposed 145% tariffs on China products, a measure that threatened to affect technological giants such as Apple, which manufactures iPhones and most of its other products in China.
The guide also includes exclusions for other electronic devices and components, including semiconductors, solar cells, flat panel screens, flash units and memory cards. These products could eventually be subject to additional tasks, but they are likely to be much lower than the 145% rate that Trump had imposed on China’s assets.
Exemptions are a victory for technological companies such as Apple, which generates more than 80% of its products in China. The country manufactures 80% of iPads and more than half of the Mac computers produced, according to Evercore ISI.
“This is the dream scenario for technological investors,” Dan Iives, Wedbush Securities Global Technology Research Head of Global Technology Research. “The smartphones, the chips that are excluded are a game change scenario when it comes to China tariffs.”
He added that tariffs have been a “black cloud over technology since the day of liberation, because no sector was going to be more injured than the great technology.”
“I think that, ultimately, the Big Tech CEOs spoke out loud, and the White House had to understand and listen to the situation that this would have been Armageddon for Big Tech if it was implemented,” said Iives.
In the days elapsed since Trump’s announcement, Apple lost more than $ 640 billion in market value, CNBC reported previously.
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