Big Tech firms, Apple, Nvidia and Microsoft,"breathe a huge sigh of relief" after US exempted several electronic items from latest tariffs.
United States Customs and Border Protection has shared a list of products that will be excluded from Trump’s reciprocal tariffs.
US on Saturday, April 12, 2025, revealed that smartphones, computers, semiconductors and memory cards, along with other electronic devices and components are exempted from Trump’s reciprocal tariffs.
Notably, the move comes shortly after Trump imposed a 125% tariff on goods from China., which the administration confirmed to CNBC and other outlets is in addition to the 20% tariff put in place earlier this year, bringing it to a total of 145%.
According to Wedbush Securities’ estimates, Roughly 90% of Apple’s iPhone production and assembly is based in China.
Analysts at Wedbush on Saturday called the tariff exclusion, “the best news possible for tech investors.”
Wedbush stated, “Big Tech firms like Apple, Nvidia, Microsoft and the broader tech industry can breathe a huge sigh of relief this weekend into Monday.”
“A big step forward for US tech to get these exemptions and the most bullish news we could have heard this weekend…now onto the next step in negotiations on the broader China tariff war which will take several months at least,” Wedbush added.
Previously, Trump announced higher reciprocal tariffs for other countries but walked this back with a 90-day “pause” earlier this week, while this pause does not apply to China.
