• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

Bolt CEO says he let go of his entire HR team for creating problems that didn’t exist: ‘Those problems disappeared when I let them go’ 

2

Meet a 21-year-old community college student who's going to China as the first American woman welder in the trades Olympics

3

The Bezos family just donated $100 million to help achieve one of Mayor Zohran Mamdani’s top campaign promises

1

Bolt CEO says he let go of his entire HR team for creating problems that didn’t exist: ‘Those problems disappeared when I let them go’ 

2

Meet a 21-year-old community college student who's going to China as the first American woman welder in the trades Olympics

3

The Bezos family just donated $100 million to help achieve one of Mayor Zohran Mamdani’s top campaign promises
Finance

Trump carves out massive exemptions from reciprocal tariffs, including smartphones, chips and computers

Jason Ma
By
Jason Ma
Jason Ma
Weekend Editor
Down Arrow Button Icon
Jason Ma
By
Jason Ma
Jason Ma
Weekend Editor
Down Arrow Button Icon
April 12, 2025, 9:59 AM ET
Containers are loaded and unloaded from cargo ships at Port Liberty on April 10 in Bayonne, New Jersey.
Containers are loaded and unloaded from cargo ships at Port Liberty on April 10 in Bayonne, New Jersey.Spencer Platt—Getty Images
  • In a notice published late Friday night, US Customs and Border Protection issued new guidance on President Donald Trump’s so-called reciprocal tariffs, listing several exemptions like smartphones, computers, chips and other electronics. That carves out a massive hole from his virtually prohibitive 145% tariff on China and comes after Beijing hiked its own duties on US imports but said no further retaliation would come.

President Donald Trump threw the global economy for another loop by carving out massive exemptions from his tariffs, including popular electronics like smartphones.

Recommended Video

In a notice published late Friday night, US Customs and Border Protection issued new guidance on his so-called reciprocal tariffs, which were announced just a week and a half ago and then saw a 90-day pause on most countries save for the baseline 10% rate but additional hikes on China to a prohibitive 125%. After including his earlier levies, that sent the total rate on China to 145%.

The exemptions includes smartphones, computers, semiconductors, solar cells, flat panel TV displays, flash drives, memory cards and solid-state drives for data storage.

That comes after China hiked its own duties on US imports to 125% on Friday but said it would stop retaliating, while Trump signaled he was optimistic about a deal with Beijing, giving investors some hope that their trade war could de-escalate.

The products listed under the exemptions Friday night could still be hit with duties later but they are likely to be lower than what Trump initially unveiled.

For example, he has said that tariffs on semiconductors are on the way, following similar moves on imports of steel, aluminum and autos.

Still, the exemptions also offer huge relief for US companies like Apple that assemble and import devices in China. The iPhone maker’s shares have been crushed since Trump ramped up tariffs on China.

Meanwhile, Wall Street analysts have pointed out that the cost of making many devices in the US would add thousands of dollars to their price tags and take years to set up production.

In recent days, consumers have been rushing to buy electronics before tariffs kick in, and businesses that rely on overseas production have been canceling orders from suppliers.

Join us at the Fortune Workplace Innovation Summit May 19–20, 2026, in Atlanta. The next era of workplace innovation is here—and the old playbook is being rewritten. At this exclusive, high-energy event, the world’s most innovative leaders will convene to explore how AI, humanity, and strategy converge to redefine, again, the future of work. Register now.
About the Author
Jason Ma
By Jason MaWeekend Editor

Jason Ma is the weekend editor at Fortune, where he covers markets, the economy, finance, and housing.

See full bioRight Arrow Button Icon

Latest in Finance

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in Finance

elon
SuccessIPOs
SpaceX IPO targets $28.5 trillion total addressable market, mission to ‘make life multiplanetary’ and understand ‘true nature of the universe’
By Nick LichtenbergMay 20, 2026
2 hours ago
Jensen Huang, chief executive officer of Nvidia
AINvidia
Nvidia tells skeptical investors that AI is ready to go mainstream
By Ian King and BloombergMay 20, 2026
3 hours ago
SpaceX finally files IPO prospectus, reveals revenue is up–but losses are too
Big TechSpaceX
SpaceX finally files IPO prospectus, reveals revenue is up–but losses are too
By Allie Garfinkle and Alexei OreskovicMay 20, 2026
3 hours ago
Elon Musk sits with his fists together, looking up.
Commentaryspace
SpaceX will be worth trillions, but the space station that made it possible is worth even more — if we don’t squander it
By Tejpaul BhatiaMay 20, 2026
3 hours ago
Clinical Psychologist Daniel Wendler
ConferencesWorkplace Innovation Summit
A ‘proudly autistic’ workplace expert says putting neurodivergent employees in a typical office is like dropping a polar bear in Austin, Texas
By Tristan BoveMay 20, 2026
4 hours ago
Hiba Mona Anver, wearing a black and white striped dress, gestures with her hands as she speaks onstage.
North AmericaWorkplace Innovation Summit
80% of companies have an immigrant in a top leadership role—Trump’s visa crackdown is forcing them to make a ‘plan C,’ warns immigration expert
By Sasha RogelbergMay 20, 2026
5 hours ago

Most Popular

Bolt CEO says he let go of his entire HR team for creating problems that didn’t exist: ‘Those problems disappeared when I let them go’ 
Workplace Culture
Bolt CEO says he let go of his entire HR team for creating problems that didn’t exist: ‘Those problems disappeared when I let them go’ 
By Preston ForeMay 19, 2026
1 day ago
Meet a 21-year-old community college student who's going to China as the first American woman welder in the trades Olympics
Future of Work
Meet a 21-year-old community college student who's going to China as the first American woman welder in the trades Olympics
By Mike Householder and The Associated PressMay 17, 2026
3 days ago
The Bezos family just donated $100 million to help achieve one of Mayor Zohran Mamdani’s top campaign promises
Politics
The Bezos family just donated $100 million to help achieve one of Mayor Zohran Mamdani’s top campaign promises
By Jake AngeloMay 12, 2026
8 days ago
Despite a $500 million net worth, Shaq just finished his fourth degree. He warns graduates: 'Your character will take you further than your resume'
Success
Despite a $500 million net worth, Shaq just finished his fourth degree. He warns graduates: 'Your character will take you further than your resume'
By Preston ForeMay 20, 2026
9 hours ago
Current price of oil as of May 19, 2026
Personal Finance
Current price of oil as of May 19, 2026
By Joseph HostetlerMay 19, 2026
1 day ago
Spirit Airlines apologizes to all the Americans who can't afford any summer vacation flights as it shuts down
Travel & Leisure
Spirit Airlines apologizes to all the Americans who can't afford any summer vacation flights as it shuts down
By Rio Yamat and The Associated PressMay 18, 2026
2 days ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.