According to a statement issued by the US Customs and Border Protection Department today, electronic products imported to the US will be exempted from President Donald Trump’s comprehensive tariffs for now.
Smartphones, computer monitors and various electronic parts are among the exempted products. According to the announcement, the exemption applies to products entering the United States or at the earliest April 5 from warehouses.
Exempt for now
This move came after the Trump administration’s 145 percent minimum customs duty rate to Chinese goods imported to the United States. Customs duties will have a major impact on technology giants, such as Apple, which produces iPhone and other products in China.
According to Wedbush Securities estimates, about 90 percent of Apple’s iPhone production and assembly is being held in China.
Counterpoint Research, a company watching global smartphone shipments, estimates that Apple has six weeks of stock in the USA. When this supply is exhausted, prices are expected to increase significantly.
