Trump spares electronics from China tariffs

US PRESIDENT Donald Trump's administration granted exclusions from steep reciprocal tariffs to smartphones, computers and some other electronics imported largely from China, providing a big break to tech firms like Apple that rely on imported products.

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In a notice to shippers, the US Customs and Border Protection agency published a list of tariff codes excluded from the import taxes, with retroactive effect from 12.01am on April 5.

It featured 20 product categories, including the broad 8471 code for all computers, laptops, disc drives and automatic data processing. It also included semiconductor devices, equipment, memory chips and flat panel displays.

The notice gave no explanation for the move, but the late-night exclusion provides welcome relief to major technology firms such as Apple, Dell Technologies and many other importers.

Trump’s action also excludes the specified electronics from his 10% “baseline” tariffs on goods from most countries other than China, easing import costs for semiconductors from Taiwan and Apple iPhones produced in India.

Asked at the weekend about his reasoning for the exemptions and plans for semiconductors, Trump told reporters on Air Force One: “I'll give you that answer on Monday. We'll be very specific on Monday ... we're taking in a lot of money, as a country, we're taking in a lot of money.”

Wedbush Securities analyst Dan Ives called the announcement “the most bullish news we could have heard this weekend.”