Tech Stocks Rally as Trump Hints at Semiconductor Tariff Exemptions

US equities advanced Thursday as markets digested the implementation of President Trump's sweeping tariffs, with the tech sector finding support from potential semiconductor duty carveouts. The Nasdaq Composite led gains, rising 0.8% amid renewed Optimism for chip-dependent companies.

Trump's trade deadline triggered new import duties ranging from 10% to 50% across nearly 200 trading partners, potentially pushing the average effective tariff rate to 18.3%. However, the administration's suggestion of exemptions for companies investing domestically—including Apple's planned $100 billion US manufacturing commitment—provided selective relief.

The semiconductor industry remains in focus as the WHITE House floats eventual 100% tariffs, with carveouts likely for firms establishing American production. This nuanced approach creates divergent opportunities across the tech supply chain.