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While the source device should do most of the voltage regulation, TI recommends a transient voltage suppressing diode be implemented on the VBUS_IN rail. This is due to the possibility of a voltage surge when a cable with current actively running through it is unplugged, causing inductive ringing (as mentioned here), as well as any electrostatic discharge events. For example, the TVS2200 product is recommended for a 20V spec. The Altium schematic is configured with variants, which will change the TVS diode model to match the negotiated voltage.
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