Trump Says No One 'Off the Hook' on Tariffs But Markets Rise

Stock markets on Monday welcomed US tariff exemptions for electronics, but President Donald Trump signaled the reprieve would be temporary and warned no country would get "off the hook" in his trade war — especially China.

- Agence France-Presse

WASHINGTON:

The world's two largest economies have been locked in a fast-moving game of brinkmanship since Trump launched a global tariff assault that particularly targeted Chinese imports.

Tit-for-tat exchanges have seen US levies imposed on China rise to 145%, and Beijing setting a retaliatory 125% band on US imports.

The US side had appeared to dial down the pressure slightly on Friday, listing tariff exemptions for smartphones, laptops, semiconductors and other electronic products for which China is a major source.

But Trump and some of his top aides said on Sunday that the exemptions had been misconstrued and would only be temporary as his team pursued fresh tariffs against many items on the list.