The 9th day of the Sino-US tariff war, which was also "Black Friday" for the US financial market experiencing a triple kill in "stocks, bonds, and exchange rates," saw Trump personally sign an agreement to "concede" and grant large-scale exemptions on Chinese products.

On the afternoon of April 12 Beijing time, US Customs announced a notable policy adjustment —

According to the memorandum personally signed by Trump himself, certain goods originally produced in China have their tariffs "zeroed out," meaning they are no longer subject to the previously high "reciprocal tariff" of 145%.

This decision covers high-tech sectors such as computers, mobile phones, semiconductors and electronic components, communication equipment, and storage media.

[Unable to "Disrupt Supply Chains": Trump Directly "Concedes"]

Although this large-scale exemption on Chinese products appears, on the surface, to be a "partial concession" under the intense pressure of the trade war, the strategic landscape hidden behind it deserves careful thought.

From the categories of exempted products, this adjustment clearly shows careful planning, with a focus on protecting key links in the US high-tech industrial chain.

For example, item 8471 involves automatic data processing equipment (such as servers and laptops), while item 8542 covers integrated circuits and microelectronic components (including chips and memory).

These products are not only core components of the consumer electronics industry but also the foundation for supporting cutting-edge technologies such as 5G communication, artificial intelligence, and cloud computing. More importantly, these are major exports from China to the US.

[Directly Covering 40% of China's Exports to the US]

According to 2024 data on China's exports to the US, computers and related equipment are an important part of China's $500 billion (3.73 trillion RMB) annual exports to the US, accounting for about 10%. The annual export amount is nearly 300 billion RMB.

Communication equipment (such as smartphones and communication base station equipment) is one of the core areas of China's exports to the US, also accounting for 10% of China's total exports to the US. The annual export amount is approximately 300 billion RMB.

In addition, the accessories and auxiliary equipment for these devices also have an annual export amount of approximately 100 billion RMB.

High-tech electronic information-related products (including computers and peripherals, semiconductors and electronic components, communication and audiovisual equipment, storage and data media) have a combined annual export value of 700 billion RMB, accounting for nearly 20% of China's total exports to the US in 2024, which is 3733.72 billion RMB. In terms of proportion, these high-tech product exports significantly contribute to China's trade surplus with the US.

Particularly in the fields of computers, communication equipment, and semiconductors, not only are the amounts significant, but they also reflect China's important position in the global supply chain.

Trump's decision to "exempt tariffs" in this round, although it temporarily alleviates pressure on some industries in the short term, also highlights America's dependence on China's supply chain in the high-tech sector.

[The Core Logic of the Exemption List: Protecting America's Technological Lifeline]

The reason why the Trump administration chose to "relax" in these areas is easy to understand:

If additional high tariffs continue to be imposed on related Chinese products, it will not only increase production costs for American companies but may also lead to a disruption of critical technology supply chains, further weakening America's competitive advantage in global technological competition.

Especially now, when the global semiconductor industry is experiencing capacity shortages, any additional trade barriers could exacerbate supply crises in the US domestic market.

Including terminal consumer electronics such as smartphones and tablets in the exemption scope indicates that the Trump administration aims to alleviate price pressures on domestic consumers caused by high tariffs while avoiding market backlash due to overly aggressive tariff policies.

After all, voter dissatisfaction ultimately translates into lost votes, something Trump is unwilling to see.

[The Balance Behind the "Relaxation": Short-term Compromise or Long-term Strategy?]

However, Trump's move is not a simple "show of weakness" but rather a tactical adjustment based on realistic interests.

On one hand, by exempting tariffs in key areas, he can stabilize the basic situation of the US tech industry in the short term, ensuring that economic operations are not severely impacted; on the other hand, this also leaves more room for future negotiations to resume.

After all, in the increasingly intense Sino-US competition, whoever controls core technologies and supply chain dominance will gain the upper hand.

This "selective exemption" strategy also reveals the vulnerability of the US in the high-tech field. For instance, although the US remains a global leader in technological innovation, it is highly dependent on Asian supply chains in the manufacturing process.

Once China takes countermeasures or restricts the export of raw materials (such as rare earth elements), American companies will still face significant challenges. Therefore, this exemption list represents both a compromise to the current situation and an unavoidable response to future uncertainties.

In summary, Trump's decision to exempt tariffs on high-tech products is both a concession to current difficulties and a recalibration of future strategies.

However, regardless of its original intentions, it cannot mask one fact: Trump's trade war is destined to become a losing battle that only consumes resources without winning.

Original article: https://www.toutiao.com/article/7492418999855120908/

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