Smartphone tariffs are coming back in 'a month or two,' says Trump admin
a year ago
- #manufacturing
- #tariffs
- #trade
- Smartphones and other devices exempt from Trump’s April 9th tariffs will soon be included in semiconductor duties.
- The Trump administration aims to encourage manufacturing in the U.S. through these tariffs.
- Commerce Secretary Howard Lutnick mentioned that the tariffs are not permanent exemptions but part of a strategy to reshore production.
- Lutnick cited Panasonic's new factory in Kansas as an example of foreign companies investing in U.S. manufacturing.
- The new tariffs could affect products like iPhones, which are largely built in China.
- Lutnick believes the tariffs will not necessarily lead to higher prices in the U.S., emphasizing the potential for domestic manufacturing growth.