US Customs Agency Clarifies Trump’s Tariffs Exemptions
The US customs agency has clarified exemptions for certain products from Donald Trump’s punitive tariffs, sparking renewed uncertainty among investors. Smartphones, computers, and chips are among the items exempt from levies.
However, Commerce Secretary Howard Lutnick later stated that these exemptions would be temporary, implying no one is entirely off the hook. Tech products will be exempt from reciprocal tariffs for now but may still face duties in a future chip industry trade plan, potentially set to take effect in two months.
Additionally, President Trump announced his intention to help car companies without specifying how he plans to do so, further adding to market confusion.
Source: https://www.economist.com/the-world-this-week/2025/04/16/business