The tariff-imposition campaign of US President Donald Trump continues to take unexpected turns. China was hit with 145% in the most recent report, with a few exemptions.

The high tariffs that Trump promised on April 2 did not extend to flash drives, smartphones, computers, or other digital items. For US businesses that depend on Chinese technology, this ruling is a huge relief. Following this announcement, stocks of businesses such as Apple and Nvidia surged.

Apple, the parent company of iPhones, iPads, and other devices, is one of many US companies in a risky situation because the majority of its products are manufactured in China. This procedure is readily facilitated by Foxconn, Apple's local partner. China is where almost 80% of Apple's products are made.

Why exempt these products?

The US is more dependent on China since it does not make computers, disc drives, laptops, or automatic data processing equipment. Smartphones, memory cards, semiconductors, solar cells, modems, routers, and flat-panel displays are among the items that the US depends on China for. Strict tariffs are no longer applied to certain goods.

The left, right, and center have all been subject to tariffs imposed by Trump. Millions of dollars' worth of imported items will be impacted. Trump has so far imposed taxes ranging from 10% to 50%, with the latter being reserved for the "worst offenders."

Canada and Mexico, like China, already pay taxes on some products, but they have been currently exempted from these hefty tariffs so far.

 

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