Editor's PiCK

Trump: "Smartphones and other electronics are not exempt from tariffs"

Source
Korea Economic Daily

Summary

  • President Trump denied the tariff exemption for electronic products such as smartphones and computers.
  • He stated that smartphones and laptops will continue to be subject to the existing 20% fentanyl tariff.
  • Regarding the controversy over a policy retreat, he mentioned that these products are merely being moved to a different tariff category.

U.S. President Donald Trump denied reports that smartphones, computers, and other electronic products are exempt from mutual tariffs. This comes after the U.S. Customs and Border Protection (CBP) announced that 20 items, including smartphones, laptops, memory chips, and semiconductor equipment, would be excluded from mutual tariffs, sparking controversy over a policy retreat. President Trump took to his social media platform, Truth Social, on the 13th (local time) to deny the mutual tariff exemption.

He stated, "It was not announced last Friday that smartphones and PCs are tariff exceptions," explaining that "these products are subject to the existing 20% fentanyl tariff and are merely being moved to a different tariff category."

He added, "No one can escape the unfair trade balance and non-monetary tariff barriers imposed on us, especially China, which treats us the worst. There are no tariff exceptions announced on Friday."

Previously, Secretary of Commerce Howard Lutnick also stated in an interview with ABC that "semiconductor item tariffs, to be announced in about a month or two, will include electronic products such as smartphones and computers," clarifying that 'mutual tariffs' and 'sector-specific tariffs for certain products and industries' are separate issues.

Reporter Kim Soo-young, Hankyung.com swimmingk@hankyung.com

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Korea Economic Daily

hankyung@bloomingbit.ioThe Korea Economic Daily Global is a digital media where latest news on Korean companies, industries, and financial markets.
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