The shares of Apple Inc. (AAPL), Super Micro Computer Inc. (SMCI), NVIDIA Corp. (NVDA), and Advanced Micro Devices Inc. (AMD) increased during Monday’s pre-market trading session after the Trump administration granted a tariff reprieve to the tech industry. President Donald Trump excluded various technology products, including certain consumer electronics made in China, from reciprocal tariffs. The exemptions, announced by U.S. Customs and Border Protection, reduce the scope of imposed levies. These exemptions cover smartphones, laptops, hard drives, and computer processors and memory chips, shielding them from a proposed 125% tariff on Chinese goods and a baseline 10% global tariff on most other countries. This move offers significant, albeit potentially temporary, relief for global tech giants such as Apple and Nvidia. Apple and SMCI shares climbed 5.37% and 5.31%, respectively, while AMD and Nvidia rose 2.36% and 2.24% during the pre-market session. The exclusions aim to prevent additional tariffs on specific sectors from piling up on top of nationwide rates, implying that these products may soon face a different tariff structure, likely a reduced rate for China. However, this tariff relief could be temporary, as President Trump plans to announce the tariff rate on imported semiconductors in the coming week amid an investigation under Section 232 trade law. Trump emphasized the desire to manufacture semiconductors domestically, suggesting a potential shift in the administration’s trade policy. Meanwhile, President Trump stated on his Truth Social platform that “NOBODY is getting ‘off the hook,'” indicating that tariffs and levies on tech products are being shifted to a different category. — new from Benzinga
