After the Trump administration announced that some software products would be subject to a much lower price than the enormous import charge he has imposed on Chinese citizens, U.S. stock futures rose on Sunday nights.
As of 9:50 p.m., Asian markets also saw a rise at market open, with South Korea’s Kospi index rising 0.84 % and Japan‘s Nikkei 225 index rising 1.27 %, respectively. Dow futures were up 0.3 %, or 123 points.
The good industry gains come after a turbulent week of tariffs, which included President Donald Trump‘s abrupt stoppage of his broad-based tariffs and an increase of his tariff on China by even more than 145 %.
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Customs and Border Protection made the announcement soon before the trip that some consumer tech products, the majority of which are produced in China, may be excluded from Trump’s tariffs.
Trump later clarified that the new levies don’t offer any exemptions, as he and other members of his presidency, including Commerce Secretary Howard Lutnick. Instead, those digital products, which include smartphones, different electronic components, and computer monitors, are subject to a 20 % tax on China for fentanyl.
