Trump now says smartphones ‘not exempt’ from tariffs

WASHINGTON / BEIJING: Days after his administration ‘exem­pted’ electronics items — such as smartphones — from its new tariff regime, US President Donald Trump has claimed that they are simply being moved into a different levy ‘bucket’, BBC News reported.

European markets rebounded on Monday morning, following last week’s announcement that some of these products would escape levies of up to 145 per cent.

However, BBC News quoted US officials as saying that these products would be subject to a “semiconductor tariff” instead...