In a surprising turn of events, the US Customs and Border Protection agency announced late Friday that smartphones, computers, and other electronic products are now exempt from the government’s “reciprocal tariffs.”
The updated guidance states that the exemption applies to electronic products entering the United States after April 5. Additionally, any “reciprocal tariffs” already paid can be refunded upon request.
“This is a massive U-Turn in tariff policy,” said the Kobeissi Letter, a financial newsletter on social media platform X.
According to Bloomberg, the latest announcement could potentially cushion consumers from sticker shock while benefiting electronics giants including Apple and Samsung.
The broad and unpredictable tariff policies have previously triggered turbulence in financial markets and have even drawn criticism from key figures within the Republican Party, including former Vice President Mike Pence.
