U.S. President Donald Trump's Administration issued a memorandum on 11 April 2025, Clarification of Exceptions Under Executive Order 14257 of April 2, 2025, as Amended. The clarification essentially expands the reciprocal tariff exception for "semiconductors" to include computers and computer parts, smartphones, flat panel displays and monitors, and certain other products. The expanded exception also covers machinery and apparatus for the manufacture of semiconductor boules or wafers, semiconductor devices, electronic integrated circuits, and others. The exception is effective retroactively from 5 April 2025, with any tariffs (duties) collected on such products to be refunded. According to Commerce Secretary Howard Lutnick,...