Duties, latest news. US: smartphone exemption is temporary, duties on chips in a month or two
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Key points
Trump wants semiconductor investigation for national security
Donald Trump is preparing to ask the Commerce Department to launch an investigation that could result in new duties for semiconductors on national security grounds. Politico reports this, pointing out that the president is aiming to use Section 232 of the Trade Act of 1962, which allows for restrictions on imports deemed a security threat. The investigation is likely to raise tensions between the US and Asia, from where the US imports most of its chips.
Duties, Gb release EUR 23 billion aid package for companies
The United Kingdom has been engaged in negotiations with the United States for several weeks on an economic agreement, the contents of which still remain vague. Interviewed by Sky News, Trade Minister Jonathan Reynolds explained that 'negotiations' are still ongoing and that 'all options' remain on the table in the event of failure to reach an agreement.
US, exemptions for smartphones and PCs only temporary
The exemption of electronic devices, such as smartphones and PCs, from reciprocal duties is temporary because they are likely to be subject to 'semiconductor duties' that will come into force 'in a month or two'. This was clarified by US Commerce Secretary Howard Lutnick in an interview with ABC. Electronic devices, he explained, will be examined as part of a government investigation into semiconductors, which could result in new tariffs. 'What we are saying is that they are exempt from reciprocal tariffs but may be included in the semiconductor tariffs, which will come in a month or two,' he added.
