US Exempts Smartphones and Computers from Recent Tariffs
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Synopsis
On April 12, the US government announced a tariff exemption for smartphones and computers, benefiting the global electronics industry, including companies like Apple in India. The exemption applies from April 5 and includes additional electronic components. This decision follows the imposition of higher tariffs on Chinese goods.
Key Takeaways
- US exempts smartphones and computers from tariffs.
- Exemption effective from April 5.
- Includes semiconductors and other electronic devices.
- Apple and other tech companies benefit.
- First phase of US-India trade agreement expected soon.
Washington/New Delhi, April 12 (NationPress) In a significant boost for the global electronics sector, particularly in India, the US government declared on Saturday that smartphones and computers entering the country will be exempt from the latest tariffs.
As per a notice from US Customs and Border Protection, both smartphones and computers will not be subject to President Donald Trump's 10 percent global tariff imposed on most nations, nor the hefty 145 percent tariffs on imports from China.
This exemption is applicable to products that arrived in the US or were taken from warehouses starting from April 5, as indicated in the notice.
Additionally, the exemption encompasses various electronic devices and components, such as semiconductors, solar cells, and memory cards.
This decision is likely to benefit technology giants like Apple, which manufactures iPhones and other devices in China.
The announcement follows the imposition of a minimum 145 percent tariff rate on Chinese goods by the Trump administration.
Previously, President Trump mentioned that he might consider some exemptions to his 10 percent tariff affecting most of the US's trade partners.
“There could be a few exceptions for obvious reasons, but I would say 10 percent is a floor,” Trump stated to reporters aboard Air Force One while heading to Florida.
Meanwhile, the first phase of the bilateral trade agreement between India and the US is expected to be finalized during the 90-day tariff pause period set by the Trump administration, according to official sources.
The agreement's terms have been established, and further discussions are planned mainly through video conferencing. However, if necessary, Indian negotiators may travel to Washington or US officials may visit Delhi, senior officials noted.
