In the latest switch-up in the rollercoaster of events that have followed the April 2 announcement of President Donald Trump’s “reciprocal” tariffs, the Trump Administration has said that some electronics will be exempt from these tariffs.

Smartphones and electronic integrated circuits now qualify for the “semiconductor” exemption, but officials say sector-specific duties are coming.

While the varied "reciprocal" tariffs announced last week are on pause, universal 10% tariffs and sector-specific import taxes could still have major effects on the economy.