Daily SumUp

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.