NEW: Trump exempts smartphones, computer chips from new tariffs

President Donald Trump has exempted smartphones, computer chips, and other technology from the new tariffs he imposed earlier this month, according to new guidance that has been set forth by US Customs and Border Protection.

The guidance was issued late on Friday night after Trump imposed a 145 percent tariffs on China as well as a widespread 10 percent tariff on nearly all other imports entering the United States.

CBP stated in the release that the technology under the exemption "will be excluded from the reciprocal tariffs imposed under Executive Order 14257, as amended, pursuant to Section 3(b)(iv) of that Order, effective for merchandise entered for consumption, or withdrawn from warehouse for consumption."

The guidance details that products such as laptops, semiconductors, solar cells, flat screen televisions, smartphones, as well as other technology will be exempt from the tariffs, perhaps bringing good news to tech companies such as Apple, according to CNBC. Apple has produced many of its products in China, but the company has recently moved to import iPhones to the US out of India in order to avoid the tariffs on China.

Included in the exemptions is also machines that are used to make semiconductors, per Bloomberg. Although the United States has secured deals in order to increase the manufacturing of semiconductors and computer chips in the US, setting up the domestic production of the items could take years.

After implementing higher reciprocal tariffs earlier this month on a variety of nations, Trump paused the tariffs for 90 days on nearly all nations except for China, and went to a baseline of 10 percent tariffs on nearly all imports to the US. Imports from China to the US, however, are subject to a 145 percent tariff, aside from the new exemption.