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- The US has announced that a number of key tech products will be exempted from Trump’s “reciprocal” tariffs.
- Smartphones, chip making equipment, and other electronics will be exempted, per the US Customs and Border Protection.
- Wedbush Securities’ Dan Ives called it “dream news” for the tech industry.
The US has announced that a number of key tech products, including smartphones, computers, and chip making equipment, will be exempted from President Donald Trump’s sweeping “reciprocal” tariffs.
The US Customs and Border Protection published the list of exemptions late Friday night. The guidance appears to exempt the products from Trump’s baseline 10% tariff rate on most countries and at least some of the higher duties on China.
The move will likely come as welcome news to the tech industry, which looked set to face major challenges navigating Trump’s tariffs. While many tech giants have deep ties to China, Apple in particular is fully enmeshed in the country, where it has spent years building up the supply chain for its iPhones.
In a post on X, Wall Street analyst Dan Ives called the exemptions “dream news” for the sector.
“US Big Tech spoke and the White House made the right move at the right time. Massive relief for market and tech stocks into Sunday night,” the Wedbush Securities managing director wrote.
It comes after a wild week in global financial markets that saw chaos hit both the stock and bond markets.
This is a developing story, check back for updates.