Tariff surprise: Smartphones and computers are exempted in late-night reversal
Another twist in the tariff legend: smartphones, laptops and other consumer electronics may not soar because of tariffs, at least in the case of temporary existence.
Late Friday, the Trump administration waived earlier reciprocity tariffs on such products, including a 125% fee for imports from China, where there are many technology and electronics.
The shipper notice issued by the U.S. Customs and Border Protection later Friday includes a list of tariff codes for product categories that do not require fees. Code 8471 covers computers, laptops, optical drives and automatic data processing, according to Reuters. News media said flat panel displays, memory chips and semiconductors will also avoid tariff fees.
Industry observers are concerned about the massive price increase in technology and other equipment due to tariffs, and are concerned about pushing some consumers to rush to buy iPhones and other products. Apple Store employees saw an increase in flows last weekend, and a worker told Bloomberg that the surge felt like a holiday shopping season.
It is unclear whether the exemption will remain in place, with Bloomberg and the New York Times reporting that different tariffs may ultimately affect down-line electronic devices.
What does this mean to you
If your head spins in all round-trip tariff developments, you are definitely not alone. What does it mean for the price you see when you mark something out from your shopping list? The short answer is: Don’t be surprised if you pay more for at least some of the goods and services. For more information, you can view the tariffs we explain.
Before the latest news, we ask CNET experts to provide us with the best predictions and suggestions when shopping for technical products such as laptops, phones, TVs, etc. Check out their answers in our purchase or waiting guide.
Although a CNET survey shows that some people are rushing to buy technical equipment before anticipating price increases, experts warn against eliminating credit cards. If you’re already staring at a specific product and you’ll set aside money for it, it can help you save money now or during an upcoming sale. It can also help you breathe easily. But again, be wary of taking on debts. Learn more here.
