Washington, DC [US], April 13 (ANI): The Trump administration in the US has exempted electronics like phones, computers and other electronics from the reciprocal tariffs imposed on other nations, including China, The Hill reported.
Guidance posted by Customs and Border Protection, which collects duties on imports, indicated roughly 20 products that would be exempted from reciprocal tariffs. The electronic items include smartphones, computers, semiconductor chips and routers.
The exemptions that have been implemented by the Trump administration could be a break for consumers who were facing the possibility of paying higher prices on electronics due to increased tariffs imposed on China. It’s also a win for companies like Apple, which develops many of its products in China.
US Presdident Donald Trump has indicated he will impose sector-specific tariffs on goods like semiconductor chips, implying that the exemption may be short-lived in some cases, The Hill reported.
Earlier this month, the White House announced a 10 per cent baseline tariff on imports and increased “reciprocal” tariffs on dozens of other countries. Later, Trump announced the steeper tariffs would be reduced to 10 per cent for 90 days for more than 75 countries currently engaged in trade discussions with the US. However, Trump increased the reciprocal tariffs on China to 125 per cent on top of 20 per cent levies, leading to a proportionate response from Beijing.
The move escalated fears of a trade war between the US and China. Speaking to reporters onboard Air Force One on Friday night, Trump said he was optimistic the US and China would be able to work something out, citing his ties with his Chinese counterpart Xi Jinping, The Hill reported. He said, “I think something positive is going to come out of it.”
On Friday, China hit back at the latest US tariffs by imposing 125 per cent tariffs on imports of all US goods. Chinese official Xinhua agency cited the Customs Tariff Commission of the State Council to state that it will lift the additional tariffs on products imported from the US to 125 per cent from 84 per cent, effective from April 12.
China has also filed a lawsuit with WTO following the latest US tariff hikes, the Chinese commerce ministry said as per a report in the official Xinhua Agency. (ANI)
Disclaimer: This story is auto-generated from a syndicated feed of ANI; only the image & headline may have been reworked by News Services Division of World News Network Inc Ltd and Palghar News and Pune News and World News
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