Trump will be announced on Monday regarding tariffs on semiconductor

Trump Tariff: US President Donald Trump said on Saturday that he can announce something new on Monday with a tariff on the semiconductor. He said that on Monday, he will give updates on the approach of his administration with the tariff on the semiconductor. Trump told reporters in Air Force One, “I will answer you on Monday.” Earlier, Trump excluded smartphones, computers and other electronics products from the purview of reciperoch tariffs, most of these things are manufactured in China.

What is HSN Code 8471?

The US Customs and Border Protection (CBP) has released a list of 20 such product categories, which is now excluded from the purview of Trump’s reciperochl tariff. This decision has been taken under the HSN Code 8471 (Harmonized System of Nomenclature) code.

This is a code that is used to identify them while taxing products. Data processing machines come under HSN Code 8471 code. That is, while importing or exporting, data processing machines are identified with the help of this code, which helps the custom authorities to put the right tariff on them.

Why are Trump U turn from tariff?

Although this notice of CBP did not mention the reason behind the Trump administration taking this decision, the move will provide relief to Apple, Dell Technologies and many other American tech companies. This is a sign of taking a U turn from the strict move taken on the tariff of Trump, which includes the increase in tariffs to target especially Chinese goods.

Also read:

America in front of China’s roar! Many products like smartphones, laptops were done out of the scope of reciperock tariff