New customs duty decision from the US for certain electronic products! Smartphones and computers are among them...

The Donald Trump administration has taken a new step to mitigate the negative effects of customs duties on the economy.

In a statement issued by the Customs and Border Protection agency, which operates under the US Department of Homeland Security, it was announced that certain technological products—including smartphones, computers, chips, chip manufacturing equipment, processors, modems, solar panels, flat-screen television panels, portable storage devices, and memory cards—will be exempt from the 125 percent additional tariff applied to China and the 10 percent base customs duty applied to other countries.

It was stated that the exemption will be valid for products imported starting from April 5. On the other hand, Deputy White House Chief of Staff Stephen Miller emphasized that these electronic products will continue to be subject to a 20 percent tariff against China on the grounds that "they have failed to prevent the entry of fentanyl into the US." This decision came following concerns regarding potential significant price increases for products manufactured by US technology companies in China.

TRUMP HAD ANNOUNCED RECIPROCAL TARIFFS

US President Donald Trump had announced new customs tariffs for trade partners in a speech on April 2. Trump had stated that the base customs duty rate was set at 10 percent and that additional tariffs at varying rates would be imposed on various countries.

Following intense backlash, Trump had announced that they were suspending the additional tariffs to be applied to trade partners other than China for a period of 90 days. It was reported to the public that the customs duties applied against China had risen to the 145 percent level.

News Source: İHA