June S&P 500 E-Mini futures (ESM25) are up +1.24%, and June Nasdaq 100 E-Mini futures (NQM25) are up +1.69% this morning, pointing to a strong open on Wall Street after U.S. President Donald Trump paused import duties on various consumer electronics.
Sentiment got a boost after the Trump administration exempted smartphones, laptop computers, hard drives, computer processors and memory chips, as well as flat-screen displays, from its so-called reciprocal tariffs. The exclusions, published late Friday by U.S. Customs and Border Protection, reduce the scope of the levies by excluding the products from President Trump’s 125% China tariff and his baseline 10% global tariff on nearly all other countries. Still, the White House stated that the pause in the duties is temporary and part of the longstanding strategy to implement a distinct, targeted levy on the sector. Trump on Sunday vowed to unveil new tariffs on semiconductors over the next week.
