Smartphones and laptops will dodge the sting of President Donald Trump’s 125% tariffs on Chinese goods, following updated guidance from US Customs and Border Protection. The move offers relief to tech giants like Apple, which rely heavily on Chinese manufacturing and had braced for a direct hit to their supply chains.

Alongside smartphones and computers, the tariff exclusions cover a broad range of tech essentials — semiconductors, solar cells, flat panel TV displays, flash drives, memory cards and solid-state drives, according to reports. These exemptions trace back to the original tariff order, which shielded select sectors from being double-hit by overlapping levies.

The semiconductors exemption is especially notable. Trump has long hinted at a dedicated tariff for the sector, though none has materialised. Sector-specific tariffs currently stand at 25%, but it remains unclear if or when a separate rate will be set for semiconductor imports.

Trump has also signaled potential leeway for his 10% base tariff affecting most US trade partners, according to a Bloomberg report. Still, he called the 10% a near “floor” for countries hoping to negotiate new trade agreements.

Earlier this week, the Trump 2.0 administration imposed sweeping tariffs on dozens of countries — only to pull back hours later after financial markets reeled. The abrupt policy pivot followed concerns that Trump’s aggressive import taxes could rattle the global economy.

China, facing a 145% tariff, stands as the main target. For most other countries, the US is holding the line at 10%, even as global leaders scramble to secure exemptions or broader deals.

On April 11, Wall Street rallied. The S&P 500 surged 1.8% after a Federal Reserve official signaled readiness to support financial stability. US 10-year Treasury yields retreated from their highs but still marked their largest weekly jump in over 20 years.

Trump dismissed concerns over the bond market’s volatility, linking it to his tariff recalibration. “The bond market’s going good. It had a little moment but I solved that problem very quickly,” he said.