U.S. Tariff Exemptions for Electronics Will Be Temporary, Commerce Secretary States
The Trump administration's exemption on tariffs for electronics is likely temporary. Key points include:
- Commerce Secretary Howard Lutnick indicated that the exemption for smartphones, computers, and consumer electronics will be short-lived.
- A new set of duties targeting semiconductors is expected within one to two months.
- The aim is to boost domestic chip and flat panel production while reducing reliance on Asian manufacturing.
- This follows a U.S. Customs and Border Protection bulletin about the temporary exemption from reciprocal tariffs.
- Items currently exempt may soon fall under a targeted policy for “national security” industries.
Following these announcements, the price of bitcoin dropped approximately 1% but recovered to around $84,000. The broader crypto market, measured by the CoinDesk 20 index, declined roughly 1.6% in the past 24 hours.