Trump backs off on electronics tariffs

Reacting to continuing stock market woes and perhaps tech industry lobbying, U.S. President Donald Trump backed off on tariffs for electronics late last night. In a document from the U.S. Customs and Border Protection issued on Friday, the U.S. has now exempted these consumer electronics, much of which are manufactured in China and subjected to 145% tariffs as well as a 10 percent global tariff. Semiconductors, which are used in just about everything as chips are the foundation of all electronic devices — will also be exempt. In doing so, Trump is falling more back into line with established technology economy advice, as tariffs on such devices could halt much of the modern U.S. economy. But it remains to be seen whether this will restore investor confidence in the broader market, as the unpredictability behind Trump’s behavior toward trade allies is as concerning as his actual decisions. The stock market is down 15% since Trump took office. This could be a big break for electronics ... Read full article.