On April 13, Eastern Time, the US announced the relevant memorandum to exempt some products such as computers, smartphones, semiconductor manufacturing equipment, and integrated circuits from "reciprocal tariffs". China is evaluating the impact. We have noticed that this is the second adjustment to the relevant policy since the US suspended the imposition of high "reciprocal tariffs" on some trading partners on April 10. It should be said that this is a small step by the US to correct the wrong practice of unilateral "reciprocal tariffs".