According to U.S. Commerce Secretary Howard Lutnick, the tech industry may face new tariffs despite recent exemptions. On Friday evening, the Trump administration announced that consumer electronics, including laptops and smartphones, would be exempt from the newly introduced tariffs. While some tariffs were delayed, a 10% baseline tariff remains, alongside an additional 125% tariff on Chinese goods.
Reports concerning these exemptions noted that tech products might still be impacted by upcoming targeted tariffs, with semiconductors receiving particular attention. During an interview on ABC’s “This Week,” Lutnick clarified that while these products are exempt from reciprocal tariffs, they will be included in semiconductor tariffs expected to be implemented in the coming months.
Lutnick emphasized that these products are categorized under semiconductors and will face specific tariffs aimed at encouraging reshoring. He stressed the importance of manufacturing semiconductors, chips, and flat panels in the United States.
When asked about the potential impact on American consumer prices, Lutnick expressed his belief that prices may not rise, emphasizing the potential for domestic manufacturing. There is some skepticism regarding Lutnick’s vision of large-scale electronics manufacturing returning to the U.S., with others suggesting it may be unrealistic.
President Trump was also questioned about the semiconductor tariffs over the weekend and indicated that further details would be provided on Monday.
