The Trump administration’s exemption on electronics tariffs may be short -lived.
Commerce Secretary Howard Lutnick said on Sunday that the White House’s decision to exempt items such as smartphones, computers, and other electronic consumers from steep tariffs earlier this month were temporary.
A new set of duties dedicated to semiconductors are expected within “one month or two,” he said.
“All of those products will come under semiconductors, and they will have a special type of tariff focus to ensure that those products Interview with ABC this Sunday.
The goal, he added, was to encourage chip and flat panels in the US and reduce the hope of Asian manufacturing. The clarification follows a bulletin from the US Customs and Border Protection released on Friday carrying a temporary exemption for a set of major electronics from tariffs Donald Trump who announced earlier this month.
However, Lutnick emphasized that the same items are about to get rid of under a more target policy aimed at “national security” industry such as semiconductors and pharmacists.
“We need to have chips, and we need to have flat panels – we have to do these things in America,” Lutnick said.
Bitcoin’s price dropped by about 1% of the headlines reporting Lutnick’s words, before recovering the $ 84,000 mark again. The wider crypto market, measured by CoinDesk 20 (CD20) Index, dropped almost 1.6% in the last 24 hour period.
