The US will impose separate tariffs on imports of smartphones, computers, semiconductors, and other components in the next one to two months. This was stated by US Commerce Secretary Howard Lutnick last night. The move comes a day after the US exempted electronics imports, including semiconductors, from reciprocal tariffs. Lutnick also highlighted the need to build chips and flat-panel televisions in the US, compared to relying on imports from South Asian nations. Speaking to TV channel, the Commerce Secretary said all those products are going to come under semiconductors, and they’re going to have a special focus type of tariff to make sure that those products get reshored.
The US Commerce Secretary highlighted that smartphone and computer imports are removed from the reciprocal tariff list but will now be added to the semiconductor tariffs within the next two months.
On Saturday, the US government announced it would exempt smartphones and computers imported into the country from the latest tariffs. According to a US Customs and Border Protection notice, the exemption applies to products entering the US or removed from warehouses as early as April 5. The exemptions also include other electronic devices and components, including semiconductors, solar cells, and memory cards.
The US is also planning to go in for a tariff hike on pharmaceutical products, especially those being imported from China, in the next month or two. Mr. Lutnick said in an interview with a media outlet that America can’t be relying on China for fundamental things that it needs such as medicines and semiconductors which need to be built in America.
The statement comes close on the heels of President Donald Trump’s declaration at the National Republican Congressional Committee that the US would soon impose a major tariff on imported drugs. Pharmaceuticals have until now been kept out of the USA’s broader tariff rates as the country is dependent on cheap generic drugs available from countries like China and India to run their healthcare system.