Price hikes for iPhones, video cards and other electronics are cancelled – Trump exempts them from increased duties

The tech industry may be breathing a sigh of relief after the White House lifted higher tariffs on smartphones, laptops, PC components and other electronics imported into the United States. Until now, iPhones, which are mostly made in China, and many other electronics had faced tariffs of up to 145%, fueling speculation that electronics could become more expensive.

On the previous evening, the US Customs and Border Protection published a list of goods that will not be subject to increased duties, including the 145% tariff imposed on goods from China, as well as the basic 10% rate that applies to most countries of the world, Bloomberg reported.

The list of exemptions includes smartphones, laptops, hard drives, solid-state drives, computer processors and memory chips, printed circuit boards, displays and monitors. Also, duties will not apply to semiconductor components such as diodes – in general, all the most popular goods in the consumer and industrial electronics segment, which, as a rule, are not produced in the United States, and the creation of domestic production of which will take years.

The exceptions also include machines used in semiconductor manufacturing, which is important for the world’s largest contract manufacturer TSMC, which has announced a major investment in the U.S. The decision will be welcomed by other chipmakers, including Intel and Samsung.

The White House thus managed to end a week of political and market instability, which first saw tariff increases announced across the board, and then a 90-day freeze on tariff increases for most countries except China, which saw tariffs gradually increased to 145%.

For the tech industry, the danger may not be over yet: The Trump administration may be planning industry tariffs separate from the 145% tariff on China. But for now, lifting the higher levies could bring relief to both Apple and consumers, some of whom have rushed to buy equipment at “old” prices in recent days.