US President Donald Trump's administration announced on April 12 that they would exclude electronics like smartphones and laptops from "reciprocal" tariffs. This move is aimed to help keep the prices down for popular consumer electronics that aren't usually made in the US.
According to reports, it would also benefit big tech companies like Apple and Samsung and chip makers like Nvidia.
The US Customs and Border Protection has announced that items like smartphones, laptops, hard drives, flat-panel monitors and some chips would qualify for the exemption.
Machines used to make semiconductors are excluded too. That means they won't be subject to the current 145 per cent tariffs levied on China or the 10 per cent baseline tariffs elsewhere.
Trump previously said he would consider exempting some companies from tariffs.
Associated Press quoted Wedbush analyst Dan Ives who mentioned in his research that the move takes off "a huge black cloud overhang for now over the tech sector and the pressure facing U.S. Big Tech."
