What to know:
- Smartphones, computers, and other electronics are like that one friend who says they’re “just taking a break” – it’s only temporary! 📱💻
- Commerce Secretary Howard Lutnick spilled the beans that semiconductor-specific tariffs are coming in one to two months. So, mark your calendars! 🗓️
- The U.S. is on a mission to stop relying on Asia and start making things at home. Because who doesn’t love a good old-fashioned American-made gadget? 🇺🇸
So, it turns out the Trump administration’s exemption on tariffs for electronics is about as stable as my last relationship. 😬
Commerce Secretary Howard Lutnick casually mentioned on Sunday that the White House’s decision to exempt items like smartphones and computers from those hefty tariffs was just a temporary fling. Who knew tariffs could be so dramatic? 🎭
He also hinted that a new set of duties focused on semiconductors is expected within “a month or two.” So, if you were hoping to stock up on gadgets, you might want to do it soon! ⏳
“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,” Lutnick said during an interview on ABC’s This Week. Sounds like a plan, right? 🙄
The goal, he added, is to encourage chip and flat panel production in the U.S. and reduce dependence on Asian manufacturing. Because nothing says “national security” like a good old-fashioned American chip! 🍟
However, Lutnick made it clear that those same items would soon be swept up under a more targeted policy aimed at “national security” industries like semiconductors and pharmaceuticals. Because who doesn’t want their electronics wrapped in a security blanket? 🛡️
“We need to have chips, and we need to have flat panels — we need to have these things made in America,” Lutnick said. And I need a million dollars, but here we are. 💸
In other news, the price of bitcoin dropped roughly 1% on headlines reporting on Lutnick’s words, before recovering back to the $84,000 mark. The wider crypto market, measured by the CoinDesk 20 (CD20) index, is down roughly 1.6% in the last 24-hour period. So, basically, it’s a rollercoaster out there! 🎢
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2025-04-13 18:15