1) White House Releases Trump Memorandum
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Specifies the details of Executive Order 14257 (amended version).
2) Semiconductors Reconfirmed as Tariff-Exempt Items
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Semiconductor-related products (including computers, manufacturing equipment, smartphones, storage devices, etc.) are confirmed to be exempt from tariffs.
3) Tariff Refund Measures
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Any incorrectly imposed tariffs after 12:01 AM ET on April 5 will be refunded through U.S. Customs and Border Protection (CBP).
4) Clarification of Existing Exemptions, Not a New Delay
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This announcement is not a new grace period, but a formal clarification of the already exempted semiconductor items.
5) Reason for Market Confusion
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Despite the April 2 exemption announcement, events like Apple’s stock drop suggest the market did not fully grasp the implications.
6) Statement from Stephen Miller
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Explained that “Chinese electronic products are originally subject to 20% tariffs under IEEPA.”
7) Bloomberg’s Observation
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Warned that currently exempted items such as steel, copper, and energy may be subject to tariffs in the future.
