iPhone won’t face Trump tariff price hike for now following exemption

Apple and its customers can breathe a sigh of relief today after the White House carved tariff exemptions for smartphones, laptops, and more. The iPhone maker was facing a 145% fee on products imported into the United States from China. This caused weeks of speculation that the iPhone and other electronics could be subject to price hikes to cover the cost. Bloomberg reported on the tariff exemption policy development: The exclusions, published late Friday by US Customs and Border Protection, narrow the scope of the levies by excluding the products from Trump’s 125% China tariff and his baseline 10% global tariff on nearly all other countries. The exclusions would apply to smartphones, laptop computers, hard drives and computer processors and memory chips. Those popular consumer electronics items generally aren’t made in the US. Setting up domestic manufacturing would take years. The products that won’t be subject to Trump’s new tariffs also include machines used to make semiconductor ... Read full article.