President Donald Trump has approved exemptions for smartphones, computers, and other electronic components from the administration’s sweeping 145% tariffs on Chinese goods, according to new guidance issued Friday by U.S. Customs and Border Protection.
The exclusions—effective for products shipped after April 5—apply to smartphones, semiconductors, solar cells, flash drives, flat panel displays, and memory cards. The decision marks a significant concession for tech giants like Apple, which manufactures a large share of its products in China.
Apple had lost over $640 billion in market value since the initial tariff announcement. Some estimates warned iPhone prices could spike to $3,500 under the full tariff plan. The decision to exempt tech goods comes amid rising economic concerns, with the S&P 500 plunging over 5% and bond yields surging during the week.
Analysts credited industry pressure for the reversal. “This would have been Armageddon for big tech,” Wedbush’s Dan Ives told CNBC. The White House also recently paused most tariffs for 90 days for countries cooperating on trade talks—excluding China.
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