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The Guardian - UK

Business

Phillip Inman

US stock markets expected to recover after Trump drops tariffs on mobiles

United States Donald Trump Apple Nvidia China Howard Lutnick Laptops

Traders on the floor of the New York Stock Exchange — Shares in tech’s big seven US firms dropped as much as 14% after Trump announced his tariffs. Photograph: Timothy A Clary/AFP/Getty Images

US stock markets were expected to stage a recovery on Monday after Donald Trump excluded imports of smartphones and laptops from his tariff regime late on Friday night.

Shares in Apple and chip maker Nvidia were on course to soar after tariffs on their products imported into the US were lifted for 90 days.

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