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Trump exempts smartphones, laptops, and semiconductors from new tariffs

News Snapshot:

The Trump administration is carving out big tariff exemptions for the tech industry. While President Donald Trump said Wednesday that he would delay many of the market-shaking tariffs that he’d announced the previous week, he kept a universal baseline 10% tariff in place, while also increasing tariffs on Chinese goods to 125% (on top of a 20% tariff that he’d already imposed on goods from China). There’s been plenty of speculation about what the tariffs will mean for the tech industry, which manufactures many consumer electronics in China and elsewhere abroad. One of Trump’s stated goals is to bring manufacturing…

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