Global markets signal boost amid tech tariff exemption confusion
(MENAFN) Global financial markets opened the week on a positive note following the U.S. announcement of exemptions on certain tech products—such as phones, computers, and similar devices—from its reciprocal tariffs targeting imports from various countries, including China.
According to U.S. Customs and Border Protection, about 20 tech-related products will be excluded from the tariffs, media outlets reported Saturday. The exemptions reportedly include smartphones, computers, routers, and semiconductor chips.
However, President Donald Trump contradicted these reports on Sunday, denying any exceptions had been granted for electronics. His comments came amid speculation that consumer tech goods might be spared from the sweeping tariffs.
“NOBODY is getting ‘off the hook’ for the unfair Trade Balances, and Non Monetary Tariff Barriers, that other Countries have used against us, especially not China which, by far, treats us the worst!” Trump stated on Truth Social.
Following a volatile week, market confidence appeared to return. The VIX, a key index tracking market volatility, dropped 8.8% to approximately 36.2 as of 0800 GMT Monday, after reaching highs of 50 last week—levels unseen since the COVID-19 pandemic.
U.S. stock markets ended Friday with gains, recovering from a week marked by sharp losses and rebounds driven by tariff-related uncertainty.
In contrast, gold prices, which had surged amid market turmoil, declined on Monday. The precious metal dropped 0.24% to $3,228.60 per ounce after reaching record highs last week.
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