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Tech billionaires handed boost in China tariffs war
The Independent
|April 13, 2025
Smartphones, computers, flash drives, semiconductors and solar cells will be exempt from the Trump administration's wideranging tariffs on China and other nations, according to guidance from U.S Customs and Border Protection released late on Friday night.
The policy is a boon to US tech companies such as Apple, which produces most of its iPhones in China.
“This is the dream scenario for tech investors,” Dan Ives, global head of technology research at Wedbush Securities, told CNBC. “Smartphones, chips being excluded is a game-changer scenario when it comes to China tariffs.”
The exemption applies to goods headed toward the US as early as last Saturday.
Tech CEOs courted Mr Trump throughout his campaign and since he has taken office, with Elon Musk donating more than $290m to the president and Republican-affiliated efforts, while Meta, Amazon, and Apple’s Tim Cook each gave $1m towards Mr Trump’s inauguration.
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