Smartphones, computers and other electronics have been exempted from the Trump administration’s escalating trade war with China.
According to a notice published late Friday by the U.S. Customs and Border Protection office, a host of popular high-tech products germane to the American consumer won’t be subject to tariffs and will buffer the public from cost increases for items ubiquitous in everyday life.
Apple’s popular iPhone – most of which are manufactured in China – could see massive price increases, depending on how Apple responds to the sweeping levies. Experts predict the cost could jump hundreds of dollars.
The iPhone 16 Pro Max 256 GB, which retails for $1,199, would jump to $1,874, an April 9 analyst from UBS Investment Research shows.
The notice details exemptions that cover various electronic goods, including smartphones and components entering the United States from China.
The exemptions were first reported by the AFP.
China and the United States have traded tariff increases over several days. China said on Friday it would raise tariffs on U.S. goods from 84% to 125%. The higher tariffs were scheduled to go into effect on Saturday, and China said it would not respond to future U.S. tariff hikes.
President Trump’s universal tariffs on China now total 145%, after pausing tariffs on most other countries for 90 days after global stock markets plunged – and the bond market had a hostile reaction to the tariffs.
Experts had said tariffs raised the risks of a recession and would likely reignite inflation.
The White House did not respond to CBS News’ request for comment.
Megan Cerullo,
Aaron Navarro,
Haley Ott and
Aimee Picchi
contributed to this report.
