The tech exemptions from President Trump are temporary.
Commerce Secretary Howard Lutnick explained President Trump’s decision to incorporate tariff exemptions for key electronic components on Sunday. He said these exemptions were added after U.S. Customs and Border Protection posted a bulletin on Friday night listing which semiconductor-based electronic devices would be exempt from the 10 percent global tariff rate and the high tariff rates imposed against China.
“All those products are going to come under semiconductors, and they’re going to have a special focus type of tariff to make sure that those products get restored,“ Secretary Lutnick said. “We need to have semiconductors, we need to have chips, and we need to have flat panels — we need to have these things made in America. We can’t be reliant on Southeast Asia for all of the things that operate for us.”
The commerce secretary continued, “So what [President Donald Trump’s] doing is he’s saying they’re exempt from the reciprocal tariffs, but they’re included in the semiconductor tariffs, which are coming in probably a month or two. So these are coming soon.“
He added, “The president has national security in mind, and he’s here to protect America. We need to reshore these things, and we all know it.”
As the Lord Leads, Pray with Us…
- For Secretary Lutnick to seek God’s direction as he heads the Commerce Department.
- For President Trump and members of his trade team as they work to negotiate trade deals with international leaders and ministers.
Sources: ABC News, Washington Examiner
