Trump will explain tariffs on electronics on Monday

After the Trump administration announced tariff exemptions on key technology products, the White House is touting the investments that global tech companies have committed to making in the United States.

"President Trump has made it clear America cannot rely on China to manufacture critical technologies such as semiconductors, chips, smartphones, and laptops," White House press secretary Karoline Leavitt said in a statement to ABC News.

Leavitt claimed tech companies like Apple and Nvidia are making more investments in the U.S.

"At the direction of the President, these companies are hustling to onshore their manufacturing in the United States as soon as possible," she claimed, without providing more details.

A White House official told ABC News that the president has said autos, steel, pharmaceuticals, chips and other specific materials will be included in specific tariffs.

This means the relief for certain technology sectors could be short-lived.

Other tariffs also still apply to smartphones, laptops and other electronics announced in the exemption, as they only exempt those products from Trump's most recent tariffs. The administration had earlier imposed 20% fentanyl-related tariffs in February.

-ABC News' Selina Wang

The Trump administration is exempting smartphones, computers, and other electronics from his reciprocal tariffs, according to a bulletin posted by U.S. Customs and Border Protection late Friday night.

The exemptions also include solar cells, flat panel TV displays, flash drives, computer processors, memory chips, semiconductor-based storage devices, and machines that are primarily used to make semiconductors.

Trump's total 145% tariffs on all goods from China was expected to hit tech companies like Apple, which relies on China to assemble the iPhone. UBS had estimated that the cost of the new iPhone16 Pro Max could jump by $950.

But the reprieve could be temporary. Trump has said he would impose tariffs on specific sectors, like semiconductor chips.

The White House did not immediately respond to a request for comment.

-ABC News’ Selina Wang and Fritz Farrow

Toy stores are among the hardest hit by President Donald Trump's escalating trade war with China as 77% of toys sold in the United States are made in China, according to the Toy Association.

Amy Rutherford, the owner of Pippin Toy Co. in Alexandria, Virginia, told ABC News that virtually everything in her store is made in China. Even the toys that are branded as "Made in USA" are actually made with parts from China.

The price of a stuffed panda sold at her store will rise from $32 to $80 because of the 145% tariff on Chinese products, she said.

"If it's at an $80 panda from $32, then that makes a big difference. People aren't going to want to pay that," she warned.

"I'll be able to absorb some of it, but I certainly can't absorb 145%. That's not possible. Not even half of that is possible," Rutherford added.

She said there are not enough toys made in America to fill her store with the variety she's currently selling.

Rutherford said she is trying to conserve her store's budget but added that she is concerned she may have to lay off workers in the future.

-ABC News' Selina Wang and Fritz Farrow

During Friday's press briefing, the White House refused to explain President Donald Trump's optimism that he can cut a deal with China on tariffs despite ABC News' Mary Bruce pressing Karoline Leavitt multiple times about the negotiations -- or lack thereof.

"The President, as I said from the podium, just a few days ago when I was up here, would be gracious, if China intends to make a deal with the United States," Leavitt said. "If China continues to retaliate, it's not good for China and the United States of America is the strongest, best economy in the world, as evidenced by the more than 75 countries who have called the administration immediately to cut good deals."

When pressed again on what is making Trump optimistic, Leavitt sidestepped, only saying "he's optimistic," without explanation.

-ABC News' Michelle Stoddart and Molly Nagle