US has exempted smartphones, computers, and other key electronic items from latest tariffis.
According to BBC, US President Donald Trump's administration has exempted smartphones, computers and some other electronic devices from "reciprocal" tariffs, including the 125% levies imposed on Chinese imports.
In a notice, US Customs and Border Patrol said that the goods would be excluded from Trump's 10% global tariff on most countries and the much larger Chinese import tax.
It marks the first significant reprieve of any kind in Trump's tariffs on China, with one trade analyst describing it as a "game-changer scenario".
Late on Saturday, while travelling to Miami, Trump said he would give more details of the exemptions at the start of next week.
"We'll be very specific," he told reporters on Air Force One. "But we're taking in a lot of money. As a country we're taking in a lot of money."
The move came after concerns from US tech companies that the price of gadgets could skyrocket, as many of them are made in China.
Exemptions - backdated to 5 April - also include other electronic devices and components, including semiconductors, solar cells and memory cards.
"This is the dream scenario for tech investors," Dan Ives, who is the global head of technology research at Wedbush Securities, posted on X. "Smartphones, chips being excluded is a game-changer scenario when it comes to China tariffs."
Big tech firms such as Apple, Nvidia, Microsoft and the broader tech industry can breathe a huge sigh of relief this weekend, he added.
The White House indicated the exemptions were made to ensure companies had more time to move production to the US.
