US stock futures rise amid temporary tariff exemptions for tech products
CNN
Stock futures rose Sunday after a temporary reprieve from tariffs on electronic imports from China by the Trump administration.
Stock futures rose Sunday after a temporary reprieve from tariffs on electronic imports from China by the Trump administration. Dow futures were up 0.5%, or 212 points. The S&P 500 futures rose 0.75%, while the tech-heavy Nasdaq Composite futures gained 1.26%, as of 6:18 pm ET. The Trump administration late Friday exempted electronic imports from reciprocal tariffs; any of those goods manufactured in China — like computers, phones and semiconductors — would still be subject to the 20% tariff Trump previously imposed on Chinese goods. The gains come after stocks have seesawed wildly in recent days, as President Donald Trump has levied massive tariffs on US trading partners, then backed off many of those import taxes. Still, confusion about how permanent or temporary some tariff moves could be has stoked uncertainty among investors and kept stocks, the dollar and even US Treasuries under pressure. Tech giants like Apple (AAPL), Microsoft (MSFT) and Nvidia (NVDA) rely on Chinese manufacturing, and the reciprocal tariffs would have made goods like iPhones and other consumer products more expensive. But Commerce Secretary Howard Lutnick said Sunday that the exemption was “not permanent.” Other administration officials said another slate of tariffs could be imposed after an investigation into the national security effects of semiconductor imports.
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