Trump administration announces smartphones and other electronics exempt from new tariffs

News Snapshot:

The Trump administration has exempted smartphones and various other electronics from the sweeping tariff package the president rolled out last week. President Donald Trump announced he would pause the higher reciprocal tariff rates for nearly every country on Wednesday for 90 days, while keeping a universal 10% tariff for those countries, and raising tariffs on China to a total of 145%. Customs and Border Protection on Friday identified exemptions from tariffs for smartphones, various electronic parts and computer monitors, according to a notice filed by the agency. The exemptions apply to “merchandise entered for consumption, or withdrawn from warehouse for...