Smartphones and laptops are among items exempt from recent China tariffs, but Commerce Secretary Howard Lutnick says more focused tariffs are on their way.

Apple's shares rose over 6% in Frankfurt after the U.S. granted exclusions from tariffs on smartphones, computers and some other electronics imported largely from China. Other U.S. and European tech stocks listed in Frankfurt were also higher with Nvidia risisng more 3%,

Apple Inc. has managed to dodge its biggest crisis since the pandemic — for the moment, at least. Donald Trump’s 125% tariffs on goods produced in China threatened to upend its supply chain as seriously as the Covid snarls did five years ago.