President Donald Trump has exempted electronics from the 'reciprocal' tariffs imposed on China, but they will be included in separate tariffs on semiconductors in the future.
U.S. Commerce Secretary Howard Lutnick stated that electronics goods like smartphones would eventually fall under the upcoming semiconductor tariffs.
The exemption of electronics from current tariffs could be short-lived, potentially resulting in the return of tariffs on products like iPhones in a few weeks.
This decision may generate further business uncertainty, as the government has reversed course on tariffs in the past, leading to market turmoil and sell-offs in the U.S. Treasurys market.