US President Donald Trump's tariff-imposing spree sees one twist after another. In the latest, China has been slapped with 145%, and then there are a few exemptions.

Advertisment

Also read: Trump says ‘car companies need time, looking to help some’; auto stocks rise

Smartphones, laptops, flash drives, and other tech products have been exempt from the hefty taxes that Trump announced on April 2. This decision is a massive relief for US companies relying on Chinese technology. Stocks of companies like Apple and Nvidia shot up after this announcement.

Apple, the parent company of iPhones, iPads and more, is one of many US firms that are in a risky position as most of the products are assembled in China. Foxconn, which is Apple's local partner, facilitates this process seamlessly. About 80% of Apple's products are produced in China.

Advertisment

Product to bear the brunt:

Computers, disc drives, laptops, and automatic data processing equipment are not produced in the US, and that increases the dependency on China. The list of things that the US relies on China for includes smartphones, memory cards, semiconductor devices, solar cells, modems, routers and flat-panel displays. These products are now exempted from harsh tariffs.

Also read: ‘The Trump Effect in action’: Nvidia to manufacture AI chips in US as Trump plans to announce ‘semiconductor tariffs’

Advertisment

Trump has been imposing tariffs on left, right, and centre. This will affect goods worth millions of dollars entering the country. Will this add to the woes of Americans? So far, Trump has imposed taxes ranging from 10% to 50%, the latter is for 'worst offenders'.

Canada and Mexico have currently been exempted from these scathing tariffs, though they, along with China, are already paying taxes on select products.

This isn't the end yet, the land of penguins and seals are also on the list.