Last Friday, a bulletin from the United States Customs and Border Protection announced the exemption of certain technological products – smartphones, computers, and other equipment integrating semiconductors – from additional tariffs. This news was welcomed with relief by companies like Apple and Nvidia, as well as by American consumers worried about a potential surge in prices. However, this respite might be short-lived: Howard Lutnick, the new U.S. Secretary of Commerce appointed by Donald Trump, stated that specific tariffs concerning them could be implemented within one to two months.
While the announcements of reciprocal tariff increases made by Donald Trump had caused Wall Street and stock markets to plummet, the American president reversed course on April 9, the very day they were to take effect, announcing a 90-day pause before their implementation, except for China. However, the 10% tariff increase on imports that took effect on April 5 was maintained.
While the announcements of reciprocal tariff increases initially caused a sharp decline in financial markets, Donald Trump surprised observers on April 9 by announcing, on the very day of their enforcement, a temporary 90-day suspension, while simultaneously increasing tariffs toward China by 145%. On the other hand, the earlier decided 10% increase in import tariffs that took effect on April 5 was indeed maintained, confirming a desire to gradually tighten the trade regime.
Invited yesterday morning on the show “This Week” broadcast on ABC, Howard Lutnick specified that if these products are exempt from reciprocal tariffs, this exemption is only temporary and they will be subject to semiconductor rates, stating:
"All these products will fall under semiconductors, and they will be subject to a type of special rate to ensure that these products are relocated. We need semiconductors, we need chips, and we need flat screens - we need to have these things made in America. We cannot depend on Southeast Asia for everything that works for us".
If Donald Trump had to backtrack and resolve to temporarily renounce simplistic protectionism, the dependency related to semiconductors is a very real and unacceptable risk for the White House occupant.
Trump also, with his usual vehemence, confirmed these statements on his Truth Social network with his customary vehemence:
"NO ONE gets away with unfair trade balances and non-monetary tariff barriers that other countries have used against us, especially not China which, by far, treats us the worst! There was no 'tariff exception' announced last Friday. These products are subject to the current 20% tariff on fentanyl, and they are just moving to another 'tariff bracket'. Fake News knows it but refuses to report it".
It can also be read in his post:
"We will not be held hostage by other countries, especially by hostile trading nations like China, which will do everything in its power to disrespect the American people".
Declarations that could further exacerbate Sino-American tensions as China considered the announcement of these exemptions as a "small step" toward trade negotiations.
One thing is certain: the uncertainty in which Trump has plunged the global economy is the enemy of markets.
Translated from Relocaliser par la contrainte : les semi-conducteurs seront-ils finalement soumis à des taxes douanières spécifiques ?
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What are the potential implications of the temporary exemption of import tariffs on technology products in the United States?
The temporary exemption of import tariffs temporarily eases trade tensions and benefits U.S. tech companies, but it introduces uncertainty regarding the stability of trade policies, potentially impacting long-term investment negatively.