Trump Keeps Backing Down, Exempts Phones and Computers from Tariffs

News Snapshot:

Donald Trump’s tariff regime keeps getting less and less robust. In the latest backtrack from the Trump administration following the repeated warning of the markets to chill out a bit, the US Customs and Border Protection published guidance late Friday night that introduced new exemptions for smartphones, computers, and other electronics—a major carveout for tech companies that were feeling the crunch. The exemptions, as reported by Bloomberg, include popular devices like iPhones and MacBooks, as well as Android and Windows devices made overseas. It also includes hardware like hard drives, computer processors, memory chips, and graphics cards. Some have noted...