Trump says there are no tariff exceptions in his trade war, despite electronics exemptions
CBSN
President Trump on Sunday said there were no exceptions made to his tariff announcements, adding that "nobody" will see an exemption in his widening trade war. The message, posted to Truth Social, came after some electronics were excluded from his administration's 145% import levies on goods from China.
On Friday, a notice published by the U.S. Customs and Border Protection office said that smartphones, computers and other electronics are excluded from his administration's tariffs on goods from China. Since early April, Mr. Trump has ratcheted up tariffs on China-made goods in a tit-for-tat between the U.S. and China over trade duties.
However, those electronics are still subject to the 20% tariff on China related to fentanyl, according to Stephen Miller, White House deputy chief of staff on policy, and as reiterated by Mr. Trump in his Truth Social post on Sunday. Nevertheless, Wall Street is interpreting the change in tariff rates for electronics as a win for the tech sector, especially Apple, which manufactures most of its iPhones in China.
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