alt Hacker NewsThe exemptions...
>Some goods will not be subject to the Reciprocal Tariff. These include: (1) articles subject to 50 USC 1702(b); (2) steel/aluminum articles and autos/auto parts already subject to Section 232 tariffs; (3) copper, pharmaceuticals, semiconductors, and lumber articles; (4) all articles that may become subject to future Section 232 tariffs; (5) bullion; and (6) energy and other certain minerals that are not available in the United States.
Replies
TheJoeMan • yesterday at 1:32 AM
I thought the tariff goal was also to fix the issue with Pharmaceuticals where the R&D happened in the US, the company then “exported” the IP to the EU factories, and now import the drugs back. This results in a US tax rate of 0%.
Exempting chips alone doesn't make sense. Does Intel have to pay 20% on ASML lithography machines or more on Japanese ones? Meanwhile TSMC can fab chips in Taiwan and export to the US without tariffs.