Trump announces tariff exemptions amid escalating trade tensions

President Donald Trump announced exemptions for certain tech devices, including smartphones and computers, from his recently imposed reciprocal tariffs, which had raised duties on Chinese goods to 145%. This decision, revealed by the U.S. Customs and Border Protection, is seen as a response to concerns over the impact of these tariffs on major tech companies like Apple, which relies heavily on Chinese manufacturing. Despite previously indicating a desire to encourage domestic production, the exemptions suggest a shift away from that goal. Trump also mentioned the possibility of making exceptions to the new 10% baseline tariff for other countries, though he did not elaborate on specifics. The ongoing trade war with China remains contentious, with both nations imposing high tariffs on each other's goods. Market reactions to Trump's tariff policies have been volatile, reflecting investor concerns about potential economic repercussions.