Tariff exemptions are temporary, chip tariffs coming: US Commerce Secretary

Tariff exemptions announced Friday on electronics like smartphones and laptops are only a temporary reprieve until the Trump administration develops a new tariff approach specific to the semiconductor industry, US Commerce Secretary Howard Lutnick said Sunday.

“They’re exempt from the reciprocal tariffs but they’re included in the semiconductor tariffs, which are coming in probably a month or two,” Lutnick told ABC’s “This Week” on Sunday.