BREAKING: Trump Exempts Phones, Computers and More From Tariffs

Smartphones, computers, and other electronics will be exempt from President Donald Trump’s steep China tariffs, the U.S. Customs and Border Protection revealed late on Friday night.

Customs and Border Protection, which is in charge of collecting tariffs, announced in new guidance that a number of products will be exempt from Trump’s more-than 100% tariff against China. Bloomberg was first to report the news on Saturday.

Trump imposed tariffs against China and dozens of other countries earlier this month, leading to the stock market taking some major hits. Just days after his announcement, the president said he would pause most of the tariffs amid negotiations for new trade deals. Some tariffs though remained in place, including against China. They responded by imposing their own steep tariffs against the United States.

The new announcement on phones and computers being exempt from tariffs comes amidst concern that tech companies, including Apple, that rely on China would need to steeply increase their consumer prices to match new costs. According to CNBC, Apple had lost more than $600 billion in market value just days after Trump’s tariffs announcement.

Other electronics are included in the new exemptions, including semiconductors, solar cells, flash drives, memory cards, and more. The exemptions cover products moved into the United States since April 5.

The president said from the White House this week that China has “ripped off” the United States for years on trade deals.

“They have taken advantage for a long time, ripped us off. How people stood for it, sitting my position is not even believable,” he said, adding that the escalating trade war will “end up working out.”

Watch above via CNN.