Smartphones, computers, flash drives, semiconductors and solar cells will be exempt from the Trump administration’s wide-ranging tariffs on China and other nations, according to guidance from U.S Customs and Border Protection released late Friday night.
The policy is a boon to U.S. tech companies such as Apple, which produces most of iPhones in China.
Tech companies, and the net worth of their billionaire CEOs, were among those hardest hit when markets tanked on the tariff announcement. But, now Trump appears to be offering a helping hand by exempting some products from the 125 percent tariff he left on China.
A handful of tech stocks such as Apple, Microsoft, Nvidia, Netflix, Amazon, Meta and Google parent Alphabet make up over a quarter of the value of the S&P 500 at any given time — and all of these companies would face major financial challenges if global electronics supplies were hit with sustained tariffs.
The Friday announcement is the latest sudden adjustment in a tariff policy that’s changed every few days, after Trump announced on Wednesday a 90-day pause on a series of “reciprocal” tariffs on U.S. trading partners that rattled financial markets, while increasing tariffs on China to an effective rate of 145 percent and maintaining a baseline 10 percent tariffs on all countries that hadn’t retaliated against the U.S.
Despite attempting to soften the financial blow of the tariff agenda, some fear the policies have set the U.S. on a course for a recession.
It doesn’t for local businesses, so effectively he created these tariffs for nothing, the original purpose is now unable to be realised and the aftereffects will lead to bankruptcy of smaller businesses and companies will prefer to open factories literally everywhere else
Enabling the Capitalist tendency for monopolization is not “for nothing”, it’s a necessity of the system.
As those smaller businesses go out of business, their leaders will either be scooped up under the lead of larger business, or they will be forced to return to the mass labour workforce, either way their market now belongs to the higher up capitalists and their new role is ensuring profits for those bosses.
Trump achieved a short term goal with the insider trading tactic. Let’s see if he does it again.
Yeah this is the headline to be honest. I kinda assumed he was too thick so maybe it was somebody else’s idea but whatever. Looks like that was the play afaict
A la Elon
Yeah. I backed a board game recently on Kickstarter poor guy shared in a new update he got hit with a 60k charge bringing over stock for a previous release. Like shit man that’s awful for a small business.