US EditionConfusion reigns after Trump exempts electronics from new tariff regime. Here's what we know
- President Trump eased some tariffs, including exempting smartphones and electronics, on Monday, impacting global markets.
- Fears of a recession from tariff moves and historic market swings prompted the tariff adjustments.
- Stock markets rallied worldwide, with the S&P 500 up 1.5% and Dow up 441 points at 9:35 a.m. ET.
- Trump stated he was exempting smartphones from some tariffs; China's commerce ministry called it "a small step".
- Treasury yields eased and the dollar's value fell amid uncertainty, but officials said electronics exemptions are temporary.
225 Articles
225 Articles
Tariff exemptions signal growing instability in Trump trade doctrine
The Trump administration’s recent decision on 12 April to exempt smartphones, computers and other electronics from its newly introduced reciprocal tariff policy marks the second U-turn within three days. Earlier, Trump had announced a 90-day exemption on tariff applications for all trading allies except China. This reversal on electronics is apparently driven by both domestic economic considerations and the increasingly complex global trade en…
Despite Trump's tariff exemptions, uncertainty dominates market
For electronics prompted market rallies on Monday from Asia to Wall Street, but uncertainty dominated in a global trade war that Chinese leader Xi Jinping warned can have “no winner”. © New Straits Times Press (M) Bhd
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