The exclusion of President Trump’s tariffs for the iPhone and other electronics made by the Chinese can only be temporary, the Howard Lutnick’s secretary of trade said Sunday-only two days after the White House announced the change.
“So what he is doing is that he is saying that they are excluded from reciprocal tariffs, but they are included in the semiconductor fees, which are probably a month or two.
“All those products will come under semiconductors, and they will have a special type of fee concentration to make sure those products are reset.”
Late on Friday, the Trump team represents a rule that excluded a host of electronic devices from the president’s “reciprocal” sloping tariff for Chinese imports in the US
The ruling gave a return to Apple and other consumer elecontrics manufacturers, who were facing tariffs up to 145% under the new rules included by Trump.
More than 80% of Apple products are collected in China, according to data from Evercore ISI. Apple General Director Tim Cook has judged close relationships with Trump amid the push of tariffs.
Even before Trump raised Ante in China, experts were suggesting that the highest iPhone models could rise to $ 2,300 under the tariff mode.
Last Wednesday, while the group of personalized “reciprocal” personal tariff tariffs decided to take effect, the president suddenly returned the course and announced a 90-day pause while his team negotiates new agreements with Variacus countries. Trump noted that people were “becoming a little clumsy, a little scared” while the markets cracked the fears of tariffs.
Trump held a 10% initial tariff on almost all imports in force and announced a 125% fee against goods and services coming from China. White House officials explained that China will still be a 20% fee announced earlier this year for Fentanil’s concerns, which brings the total rate for most Chinese imports to 145%.
China is America’s third largest trading partner
China’s electronic products will still face other tariffs, such as the 20% rate of Trump’s tax earlier this year between its complaints against China’s role in the Fentanile crisis.
“We have to have semiconductors, we have to have chips, and we have to have flat panels – we must have done these things in America. We cannot be dependent on Southeast Asia for all things that work for us,” Lutnick added.
Lutnick explained that the Trump administration is seeking to add tariff stimuli to “encourage” the pharmaceutical industry to restore its production even to the US
“We cannot see and rely on foreign countries for the basic things we need,” Lutnick argued. “So this is not like a kind of permanent exception. He simply explains that these are not available to be negotiated by countries. These are things that are national security we have to become in America.”
Before Trump stopped personalized tariff rates last Wednesday, his senior lieutenants had been publicly convinced that the president had no intention of including any exceptions and that his protectionist change was not a negotiating trick.
Senior Advisor to Trade and Production Peter Navarro again on Sunday insisted that “Trump’s politics is no exception, no exception”, despite the return for electronics.
“The problem, interesting for chips, because this is very complex items, is that we don’t buy a lot of chips, like in bags. We buy them in products.
It is not clear what norm the Trump administration is watching for its planned semiconductor fee.
Former President Joe Biden tried to re-dwarf semiconductor production through the act of chips and Bipartisan sciences of 2022, which presented subsidies for chip companies. Trump has been critical of the chip act and argued that tariffs are a more effective tool to restore the production of semiconductors in the US
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