The euro extended gains against the US dollar, while European stock markets are poised to open higher after the White House exempted electronics from its reciprocal tariffs. However, US President Donald Trump and his administration suggested the exemption may be short-lived, stating that tariffs would resume following “National Security Tariff Investigations”, adding further uncertainty to an already volatile trade environment.
Trump took to Truth Social on Sunday, insisting that no tariff exemptions had been made, despite the US Customs and Border Protection announcing on Friday that electronic devices – including smartphones, computers, and other components – were exempt from the tariffs: 145% on imports from China and 10% on those from other countries. The White House confirmed the exemptions on Saturday.
