Trump Admin Walks Back Tariff Exemption On Electronics
www.huffpost.com
U.S. Customs and Border Protection claimed late on Friday that imported electronics, such as smartphones, laptops and more, would be exempt from Trump’s tariffs.

Donald Trump and White House officials walked back a Friday announcement that there would be tariff exemptions on imported electronics.

In a Truth Social post on Sunday, Trump directly denied the tariff exemption announcement.

…

“This is really mind-boggling. If this was serious industrial policy, the main thing you want is certainty: ‘Here’s the tariff, it will be in place for the indefinite future, and you should plan accordingly,’” Dean Baker, an economist at the Center for Economic and Policy Research, a left-leaning think tank, said, according to The Washington Post. “Here, it’s basically: ‘Come back next week and see what we’ve got.’ That’s no way to run an economy.”

  • TheDemonBuer@lemmy.world
    422·
    7 days ago

    I’m not surprised that this is how the second Trump administration has started. This level of stupidity is exactly what I was expecting. What does surprise me, though, is that many tens of millions of people voted for this. Honestly, it’s shaken my commitment to democracy. Maybe the people shouldn’t be making important decisions.

    • Ledivin@lemmy.world
      11·
      7 days ago

      …stupidity? 🤦‍♂️🤦‍♂️🤦‍♂️

      They’re intentionally crashing the economy so they and all their billionaire buddies can buy everything up for cheap. Everything is going literally exactly as planned.

      • cmbabul@lemmy.world
        8·
        7 days ago

        I was one to agree with you for a time, but at this point I’m not even sure what the plan could actually be, US treasury bonds are taking a big hit because of this shit and the global economic order is shifting to exclude the US and could even endanger the dollar as the world reserve currency. That’s a change so seismic no one could even predict what it would mean for anyone. If that’s his intention then whoever came up with the plan is stupid beyond all imagining

        • KnightontheSun@lemmy.world
          4·
          7 days ago

          I won’t go russian to judgement or putin the blame on anyone, but some people that love to sow chaos and take down the US do come to mind.

    • obvs@lemmy.worldEnglish
      52·
      7 days ago

      The US was never a democracy to begin with. It was a government designed to benefit one very particular small but powerful minority.

      It’s just that now it’s come out of the closet.

      It’s strange that it would happen now, at a point when literally every job can be automated(or will be automatable within the next 5-10 years).

    • daddycool@lemmy.world
      2·
      7 days ago

      Democracy is the power of the majority. Now think of how stupid the avarage person is and realize half of them is stupider than that.

    • MuskyMelon@lemmy.world
      2·
      7 days ago

      What surprises me is that tens of millions still think he’s doing the right thing even as he makes the country look like fools.

  • Boddhisatva@lemmy.worldEnglish
    30·
    7 days ago

    You know, this may really piss off some folks who got an early notification that there would be an exemption for electronics. You know, his insider trading buddies. It will be interesting to see who gets the angriest about this last minute change.

    On April 11, 2025, traders placed large, targeted call option bets on Apple. That evening, the Trump administration quietly exempted smartphones from tariffs, news not publicized until April 12. These trades weren’t speculation - they were placed before the memo was released.

  • Phoenix3875@lemmy.world
    18·
    7 days ago

    The AP source title is: Trump’s commerce secretary says new electronics tariff exemptions are temporary, chip tariffs coming

    The part that’s been denied is that the exclusion is permanent. Since Friday, electronics from China would be subject to 20% of the fentanyl tariff and nothing more. It will be this way until Trump invents another tariff just for electronics. I believe this is what most commentators expected back in Friday, but there must be talks of capitulation and Trump couldn’t stand to lose face.

  • Capt. Wolf@lemmy.world
    15·
    7 days ago

    This isn’t even a subtle attempt to destabilize the world market, and yet so many people are just like

  • glorkon@lemmy.world
    4·
    6 days ago

    Is it just me or is anyone else reminded of Pahpshmir out of the Naked Gun movies by this disgusting man?

  • Redditsux@lemmy.world
    2·
    6 days ago

    Stock market doesn’t believe his truth social report it seems. Apple shares are still up mid morning.