After meeting with major CEOs, the Donald Trump administration quietly proposed a new deal on tariffs.

The U.S. Customs and Border Protection (CBP) has announced updated tariff guidelines, confirming that 20 product categories under the U.S. Harmonized Tariff Schedule (HTSUS) will be exempt from the newly imposed “reciprocal tariffs.” This decision was made following a memorandum signed by President Donald Trump in the context of rising trade tensions with China. Exemptions include various types of technology-related products, including integrated circuits (HS 8542), smartphones (HS 8517.13.00), flat panel display modules (HS 8524), computers and components (HS 8471, 8473.30) and semiconductor manufacturing equipment (HS 8486). Other electronic products, including solar panels, flat-screen TVs, flash drives, and memory cards, are also exempt. This guidance comes after Trump announced earlier this month that he would impose a 145% tariff on imports from China, a decision that has shaken the technology sector and poses significant risks for companies heavily reliant on manufacturing operations in China, such as Apple. Industry analysts call the exemptions a major win for the tech sector. According to Evercore ISI, 80% of Apple’s iPads and more than half of the company’s Mac computers are produced in China. These new exemptions effectively shield Apple and other tech giants from the burden of the tariff increases. “This is a dream scenario for tech investors,” Dan Ives, global technology research director at Wedbush Securities, told CNBC. “Excluding smartphones and chips is a turning point when it comes to China’s tariffs.” Ives stated that tariffs are a “dark cloud” hanging over the tech industry: “No sector has been harmed more than big tech. I think the key point is that the CEOs of big tech have spoken out, and the White House must listen. If these are implemented, it will be doomsday for big tech.” Although the current exemptions only provide temporary relief, the guidance notes that these products may still be subject to taxation in the future, but any additional tax is expected to be significantly lower than the original tax rate of 145%.