Another twist in the tariff saga: Smartphones, laptops and other consumer electronics may not see soaring prices due to tariffs after all, at least for the time being.
Late Friday, the Trump administration exempted such products from the reciprocal tariffs it had imposed earlier, including the 125% fees levied on imports from China, where many tech and electronics products are manufactured.
A notice to shippers posted late Friday by US Customs and Border Protection included a list of tariff codes for product categories that won’t be subject to the fees. Code 8471 covers computers, laptops, disc drives and automatic data processing, Reuters reported. Flat panel displays, memory chips and semiconductors will also sidestep the tariff fees, the news outlet said.
Industry observers had feared massive price hikes on tech and other gear as a result of tariffs, and concerns had prompted some consumers to rush to buy iPhones and other products. Apple Store employees saw an uptick in foot traffic last weekend, with one worker telling Bloomberg that the surge felt like the holiday shopping season.
It’s unclear whether the exemption will stay in place, however, with both Bloomberg and The New York Times reporting that different tariff fees may end up affecting electronics equipment down the line.
Before this latest news, we asked experts to give us their best predictions and advice when it comes to shopping for tech products like laptops, phones, TVs, and more. See their responses in our buy vs. wait guide.
More to come.
