Trump Plans New Tariffs on Electronics Amid Global Market Concerns

Former President Donald Trump is planning to impose new tariffs on a range of electronic products, including smartphones and computers, which were previously exempt from tariffs. This proposal, highlighted by Commerce Secretary Howard Lutnick, aims to reduce America's reliance on foreign technology supply chains, particularly those connected to China. The upcoming tariffs, expected within the next month, could lead to increased prices for consumers, especially in markets like India, which heavily imports electronics from the US and China. The move follows a recent decision to temporarily exempt these products from steep reciprocal tariffs, intended to protect American consumers and stabilize inflation. However, the exemptions are now viewed as short-lived as the administration pivots towards a sector-specific tariff strategy that includes semiconductors and pharmaceuticals. This shift raises concerns over potential price surges for popular tech products like iPhones and laptops, which could see costs rise significantly due to increased production expenses.