Recent discussions in the tech sector suggest a temporary relief for investors as some products are no longer subject to punitive tariffs against China. Tech analyst Dan Ives noted that this shift is significant for the industry, particularly for smartphones and chips. However, Trump clarified that no true exemptions exist and that existing tariffs remain. Both he and Commerce Secretary Howard Lutnick emphasized ongoing scrutiny over the national security implications of tech imports. Despite the warning, stock futures surged, indicating market optimism amid the turbulence.
"This is the dream scenario for tech investors," Dan Ives, the global head of technology research at Wedbush Securities, posted on X. "Smartphones, chips being excluded is a game-changer scenario when it comes to China tariffs."
Trump took to Truth Social on Sunday with some clarifications. "NOBODY is getting 'off the hook'," he wrote, adding: "Especially not China which, by far, treats us the worst!"
Commerce Secretary Howard Lutnick echoed Trump's comments during an interview with ABC News on Sunday, saying that tech products would be subject to tariffs after an investigation into the effect importing vital tech components has on national security.
As chaotic as the messaging over the weekend was, certain tech products are no longer exposed to the 145% reciprocal tariff on China. US stock futures are up early Monday, with both the S&P 500 and Nasdaq rising as much as 1.4%. Apple is up more than 5% in premarket trading.
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