The administration of President Donald Trump gave tech businesses like Apple that depend on imported goods a significant reprieve by exempting cellphones, laptops, and some other devices that are mostly imported from China from high reciprocal tariffs.
The US Customs and Border Protection department released a list of tariff codes exempt from import duties in a notification to shippers. The exclusions take effect retroactively on April 5 at 12:01 a.m. EDT (0401 GMT).
The wide 8471 code for all computers, laptops, disc drives, and automated data processing was one of the 20 product categories identified by the US CBP. Additionally, it contained flat panel displays, memory chips, equipment, and semiconductor devices. Although the notification did not explain the change, large technology companies like Apple, Dell Technologies, and several other importers are relieved that the late-night exclusion has been implemented.
Ives wrote in an industry note, “Big Tech companies like Apple, Nvidia, Microsoft, and the broader tech industry can breathe a huge sigh of relief this weekend into Monday. There is still clear uncertainty and volatility ahead with these China negotiations.”
As Trump starts his second term, many CEOs of IT companies have welcomed him, joining him for celebrations following his inauguration in Washington on January 20. Tim Cook, the CEO of Apple, has visited Trump at his Florida residence and thrown a pre-inauguration ball.
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