US stock markets rose on Monday after the White House said tariffs on imports of Chinese-made smartphones and some other electronics devices would not apply.
The rollback, issued early on Saturday, may end up being short-lived after President Donald Trump said these goods were simply being moved into a different tariff group or “bucket”.
In Europe, the UK’s FTSE 100 closed up 2.1% while the main stock indexes in France and Germany both climbed.
Despite the partial rebound, global stock markets are still lower than before Trump’s “Liberation Day” tariffs announcement on 2 April.
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