Two days after quietly exempting smartphones, laptops, and other electronics from sweeping new tariffs on Chinese imports, the Trump administration has yet to publicly address the reasoning or long-term implications of the decision. But industry response has been swift—and mixed.

The exemptions pulled a range of consumer tech devices out of the administration’s 125% tariff policy. That includes high-end smartphones, solid-state drives, flat-screen displays, and semiconductor-based computing hardware. The move is a very open favor to the tech oligarchs who were found to be seated behind Trump at the inauguration ceremony.

Intense lobbying from major tech firms, including Apple, Dell, and Samsung have been underway over the last few days. Analysts say the exemption may have helped stabilize markets and calm fears of price shocks across the electronics sector. At the very least, it has calmed the stock prices of these companies.

But it also raises questions about fairness. While tech giants were spared, other industries—especially those catering to children and families—remain exposed. Toys, strollers, car seats, and basic household goods still face crushing import fees. Critics say the exemptions reflect a policy tilted in favor of corporations with political influence.

Meanwhile, the administration is reportedly conducting a Section 232 investigation into semiconductor supply chains, which could result in a new round of tariffs on critical components. Some trade analysts believe the administration is seeking to shield finished consumer goods while applying pressure deeper in the supply chain.

China, for its part, has retaliated with new tariffs on U.S.-made chips, but has stopped short of hitting Taiwanese or South Korean semiconductors, likely to avoid further global disruption.

With few public statements and no coherent strategy laid out, the future of Trump’s trade policy remains volatile. Industry leaders say they are bracing for more whiplash in the months ahead.

It seems the best analysis of these Tariffs, will come from judging who Trump keeps in his inner circle, and expect him not to raise tariffs for them. In Trump’s America, the oligarch takes preference over the American, even if the oligarch is not American.