iPhones and other Chinese-made electronics will likely be subject to more Trump tariffs, Commerce Secretary Lutnick says
President Trump’s tariff exemption for iPhones and other Chinese-made electronics may only be temporary, Commerce Secretary Howard Lutnick said Sunday — just two days after the White House announced the change.“So what he’s doing is he’s saying they’re exempt from the reciprocal tariffs, but they’re included in the semiconductor tariffs, which are coming in probably a month or two.So these are coming soon,” Lutnick told ABC News’ “This Week” on Sunday.“All those products are going to come under semiconductors, and they’re going to have a special focus type of tariff to make sure that those products get restored.”Late in the day on Friday, Trump’s team filed a rule that exempted a myriad of electronic devices from the president’s “reciprocal” steep tariff on Chinese imports to the US.The ruling granted a reprieve for Apple and other consumer elecontrics makers, who were facing tariffs of up to 145% under Trump’s sweeping new rules.More than 80% of Apple products are assembled in China, according to data from Evercore ISI.
Apple CEO Tim Cook has courted close relations with Trump amid the tariff push.Even before Trump upped the ante on China, experts were suggesting that top iPhone models could increase in price to $2,300 under the tariff regime.Last Wednesday, as Trump’s suite of customized “reciprocal” tariff rates were set to go into effect, the president abruptly reversed course and announced a 90-day pause while his team negotiates new deals with various countries.Trump remarked that people were “getting a little bit yippy, a little bit afraid” as markets cratered amid tariff fears.Trump kept the 10% baseline tariff on virtually all imports in effect and announced a 125% tariff against goods and services coming in from China.
White House officials clarified that China will still face a 20% tariff announced earlier this year due to fentanyl concerns, which brings the total rate on most Chinese imports to 145%.Chi...