Which goods & items are exempt from Trump’s new tariffs?
In a recent move, US President Donald Trump announced reciprocal tariffs on certain goods imported from China, effective from Monday, April 2. However, some commodities have been kept out of the ambit of these tariffs, providing a sigh of relief to several industries and countries. In this blog post, we will explore the list of goods and items that have been exempted 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 have been exempted from the tariffs. This is significant news for countries like India, which exports a significant amount of pharmaceutical products to the US.
Pharmaceutical products, which account for nearly $9 billion worth of exports from India, have been exempted from the tariffs. This is a welcome move for Indian pharmaceutical companies, which have been facing uncertainty over the tariffs. The exemption of pharmaceutical products is expected to benefit companies like Sun Pharma, Dr Reddy’s Laboratories, and Lupin, among others.
Another industry that has been spared from the tariffs is the energy sector. This includes crude oil, natural gas, and other energy-related products. The exemption of energy products is significant, as the US is one of the largest consumers of energy in the world.
Bullion, including physical gold and silver of high purity, has also been exempted from the tariffs. This is a positive move for investors and traders, who can now buy and sell bullion without worrying about the additional tariffs.
Some minerals that are not available in the US have also been exempted from the tariffs. This includes rare earth minerals, which are used in the production of high-tech products like electronics and renewable energy systems.
Copper, steel, and aluminum, which are widely used in construction and manufacturing, have also been exempted from the tariffs. This is a positive move for industries that rely heavily on these metals.
Semiconductors, which are used in the production of electronics and other high-tech products, have also been exempted from the tariffs. This is significant news for companies like Intel and Texas Instruments, which are major players in the semiconductor industry.
Finally, lumber articles have also been exempted from the tariffs. This includes products like wood pulp, paper, and other forest products.
While the exemption of these goods and items from Trump’s new tariffs is a welcome move, it is worth noting that the tariffs are still in effect for many other products. The tariffs are a response to China’s alleged unfair trade practices and are intended to protect American industries and workers.
In conclusion, Trump’s new tariffs on Chinese goods have been met with uncertainty and concern by many industries and countries. However, the exemption of certain goods and items from the tariffs provides a sense of relief and stability. For countries like India, which exports a significant amount of pharmaceutical products to the US, the exemption of these products from the tariffs is a welcome move.
