The Trump administration's temporary tariff exemption for consumer electronics such as smartphones and computers is expected to expire soon, according to U.S. Commerce Secretary Howard Lutnick.
Speaking on ABC's This Week today, Lutnick explained that smartphones, laptops and other key consumer electronics were temporarily exempted from high import tariffs earlier this month, but that the exemption would never become permanent.
“All of these products will fall under semiconductors and will have a special focus tariff to ensure the resupply of these products,” Lutnick said.
New duties targeting semiconductors and electronic components are expected to be implemented next month, and additional duties on pharmaceuticals will follow in one to two months, Lutnick added.
The administration’s overall goal is to bolster domestic manufacturing in sectors vital to national security, including chipmaking and flat-panel manufacturing. “We need chips, we need flat panels, we need them made in America,” Lutnick said.
The statements came just days after U.S. Customs and Border Protection issued a bulletin late Friday confirming temporary exemptions for a number of electronics from reciprocal tariffs that President Donald Trump announced at the beginning of the month.
*This is not investment advice.
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