U.S. President Donald Trump said Sunday he will soon slap tariffs on semiconductors—shortly after the White House exempted them and other electronics from “reciprocal” tariffs. (The Logic)

Talking point: U.S. Customs and Border Protection revealed late Friday 20 product classifications—including computers, smartphones, memory chips and semiconductors—that are not subject to the “reciprocal” tariffs that Trump temporarily lowered to 10 per cent for countries other than China, where they remain at 125 per cent. (Canada does not face these tariffs.) Shares of tech giants that make goods or rely on parts from China, such as Apple, rallied on the news. Trump later clarified that these products “are just moving to a different Tariff ‘bucket.’” Semiconductors have long been on his list of threatened sectoral tariffs alongside pharmaceuticals and lumber. Commerce Secretary Howard Lutnick said Sunday the goal of semiconductor tariffs is “to make sure that those products get reshored.”