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US Commerce Secretary says exempted electronic products to come under separate tariffs

  • The Trump administration announced exemptions for smartphones, computers, and electronics from high tariffs, but these exemptions are temporary, according to Commerce Secretary Howard Lutnick.
  • Lutnick indicated that while electronics are currently exempt, they will still face additional semiconductor tariffs shortly.
  • Markets reacted to Trump's announcements, with the Dow Jones plunging 1,000 points amid fears of a trade war, indicating significant market volatility.
  • Tariffs on Chinese products have increased to 145%, impacting the stock market, which experienced a significant drop following the announcements.
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Associated Press News broke the news in United States on Saturday, April 12, 2025.
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