Apple stock surges after Trump delays tariffs

he Trump administration’s decision to hold off on imposing tariffs on certain Chinese goods sent Apple’s stock price surging Tuesday morning.

Apple’s shares shot up nearly 5 percent after the announcement before ending the day up 4.23 percent.

The office of the U.S. Trade Representative¬†announced earlier¬†that it would delay tariffs on goods like “cell phones, laptop computers, video game consoles, certain toys, computer monitors, and certain items of footwear and clothing” until December 15.

The office also said that it would release a list of goods that would be exempted from the 10 percent tariff that goes into effect on September 1.

A spokesman for Apple did not immediately respond when asked for comment.

The Dow Jones Industrial Average closed up 373 points or 1.3 percent and the tech-heavy Nasdaq was up 1.95 percent.

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