Chinese ADRs Surge on Monday After Trump Pauses Tech Tariffs
U.S. President Donald Trump's administration granted exclusions from steep tariffs on smartphones, computers and some other electronics imported largely from China, providing a big break to tech firms like Apple that rely on imported products.
The pause on duties on goods from smartphones to laptop computers and memory chips offers a temporary reprieve for markets ravaged by Trump’s fast-evolving trade policy. Volatility shows little signs of easing after the president signaled separate duties on consumer electronics and microchips are being planned.
Chinese ADRs surged on Monday. Alibaba rose 6%; XPeng, JD.com, and PDD Holdings rose 5%; Trip.com rose 4%; Tencent Music, Baidu, Li Auto, and NIO rose 3%; Bilibili rose 2%.
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