Another twist in the tariff saga: Smartphones, laptops and other consumer electronics may not see soaring prices due to tariffs after all, at least for the time being.
Late Friday, the Trump administration exempted such products from the reciprocal tariffs it had imposed earlier, including the 125% fees levied on imports from China, where many tech and electronics products are manufactured.
A notice to shippers posted late Friday by US Customs and Border Protection included a list of tariff codes for product categories that won't be subject to the fees. Code 8471 covers computers, laptops, disc drives and automatic data processing, Reuters reported. Flat panel displays, memory chips and semiconductors will also sidestep the tariff fees, the news outlet said.
Industry observers had feared massive price hikes on tech and other gear as a result of tariffs, and concerns had prompted some consumers to rush to buy iPhones and other products. Apple Store employees saw an uptick in foot traffic last weekend, with one worker telling Bloomberg that the surge felt like the holiday shopping season.
It's unclear whether the exemption will stay in place, however, with both Bloomberg and The New York Times reporting that different tariff fees may end up affecting electronics equipment down the line. And tech products coming from China will still be subject to prior 20% duties the administration had applied to goods from that country, which are separate from the reciprocal tariffs; the exemption doesn't apply to those duties.
What this means for you
If your head's spinning over all the back-and-forth tariff developments, you're definitely not alone. What does it mean for the prices you'll see when crossing things off your shopping list? The short answer is: Don't be surprised if you wind up paying more for at least some goods and services. For details, you can check out our Tariffs Explained piece.
And before this latest news, we asked CNET experts to give us their best predictions and advice when it comes to shopping for tech products like laptops, phones, TVs and more. See their responses in our Buy or Wait guide.
Although a CNET survey showed that some people are rushing to buy tech gear before anticipated price rises, experts caution against busting out the credit card. If you already had your eye on a particular product and you'd set aside the money for it, buying now, or during an upcoming sale, could help you save money. It could also help you breathe a little easier. But again, be wary of taking on debt. Find out more here.