look news india
US President Donald Trump has taken a U-turn on the tariff. After deciding to suspend mutual tariffs for 90 days, Donald Trump has exempted electronics such as smartphones, computers, chips, etc. from mutual tariffs. This decision will provide relief to American people, because now the prices of these goods will not increase. Apart from this, this decision can benefit big electronics companies like Apple and Samsung.
US Customs and Border Security issued a notice late on Friday night and exempted some goods from tariffs. Accordingly, Donald Trump has exempted electronic goods such as mobile phones and computers from tariffs. This means that some electronic goods will now be free from 125 percent tariffs imposed by Trump on China and 10 percent of tariffs on other countries.
The items that have been exempted include smartphones, laptops, hard drives, computer processors and memory chips. All these things are not usually in America. Even if its construction starts in America, it can take many years. Apart from this, semiconductor manufacturing machines are also exempted from Trump’s new tariff. This decision will benefit companies like Taiwan Semiconductor Manufacturing Company (TSMC), which are making a big investment in the US. This will also provide relief to other chip manufacturer companies.
This is not the first U-turn of Trump administration on mutual tariffs. Earlier, Trump had announced a major announcement on 9 April to suspend the tariffs imposed on most countries of the world including India for 90 days. During these 90 days, those countries will have a mutual tariff of 10 percent.