Which goods & items are exempt from Trump’s new tariffs?
On Wednesday, April 2, US President Donald Trump announced a new set of reciprocal tariffs on several goods imported from various countries, including China, Mexico, and the European Union. However, not all goods and items are subject to these tariffs. Certain commodities have been kept out of the ambit of these tariffs, and in this blog post, we will explore which goods and items are exempt from Trump’s new tariffs.
According to a report by Moneycontrol, pharmaceuticals, bullion (physical gold and silver of high purity), energy, some minerals not available in the US, copper, steel, aluminum, semiconductors, and lumber articles are among the items that are exempt from the tariffs. These exemptions are significant, especially for countries like India, which exports a substantial amount of these goods to the US.
Pharmaceutical products, for instance, comprise nearly $9 billion worth of exports from India. This means that Indian pharmaceutical companies will not have to pay tariffs on their exports to the US, which is a major market for them. Other countries that export pharmaceuticals to the US, such as China and Germany, will also be exempt from the tariffs.
Bullion, including physical gold and silver of high purity, has also been exempt from the tariffs. This is significant for countries that export gold and silver to the US, as these precious metals are widely used in various industries, including jewelry and electronics.
Energy products, including crude oil and natural gas, are also exempt from the tariffs. This is because the US is a major producer of these energy products, and the tariffs are intended to encourage domestic production.
Some minerals not available in the US, such as rare earth minerals, have also been exempt from the tariffs. These minerals are used in various high-tech industries, including electronics and renewable energy, and are critical to the US’s manufacturing sector.
Copper, steel, and aluminum, which are widely used in construction and manufacturing, are also exempt from the tariffs. These metals are critical to the US’s infrastructure and manufacturing sectors, and the exemptions will help to maintain supply chains and production levels.
Semiconductors, which are used in a wide range of electronic devices, including smartphones and computers, have also been exempt from the tariffs. These devices are critical to the US’s technology and communication sectors, and the exemptions will help to maintain supply chains and production levels.
Lumber articles, including wood and wood products, are also exempt from the tariffs. These products are widely used in construction and furniture manufacturing, and are critical to the US’s housing and furniture sectors.
Overall, the exemptions from Trump’s new tariffs are significant, and will have a major impact on various industries and countries. The exemptions will help to maintain supply chains and production levels, and will reduce the cost of goods and services for consumers.
Conclusion
In conclusion, not all goods and items are subject to Trump’s new tariffs. Certain commodities, including pharmaceuticals, bullion, energy products, some minerals not available in the US, copper, steel, aluminum, semiconductors, and lumber articles, have been exempt from the tariffs. These exemptions are significant, especially for countries like India, which exports a substantial amount of these goods to the US. The exemptions will help to maintain supply chains and production levels, and will reduce the cost of goods and services for consumers.
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