Trump exempts phones, computers, chips from new tariffs

Weekend info on what appears to be a reversal on tariffs from Trump, an easing on tech goods.

The U.S. Customs and Border Protection issued a notice late Friday stating that certain goods would be excluded from both Trump’s 10% global tariff on most countries and the significantly higher import tax on Chinese products.

• Smartphones and computers are among the tech products exempted from Trump's 145% tariffs on Chinese goods.

• Other exempted electronic items include:

  • Semiconductors

  • Solar cells

  • Flat panel TV displays

  • Flash drives

  • Memory cards

Its not clear if such items might still face future tariffs, the rates are expected to be much lower than 145%.

The move is seen as a win for tech companies, particularly Apple, which manufactures most of its products in China.

This will be a tail wind for asset markets.