US stock markets expected to recover after Trump drops tariffs on mobiles

US stock markets were expected to stage a recovery on Monday after Donald Trump excluded imports of smartphones and laptops from his tariff regime late on Friday night. Shares in Apple and chip maker Nvidia were on course to soar after tariffs on their products imported into the US were lifted for 90 days. The temporary reprieve was widely seen as a climbdown after pressure from Republican leaders concerned that the soaring cost of smartphones would spark a voter backlash. US retailers import about 80% of all smartphones, many of them from China, which Trump has slapped with tariffs totalling

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