Trump exempts phones, computers and other electronics from his tariffs on Chinese goods

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Electronics like smart phones, computers, semiconductors, and solar cells will be exempt from the Trump administration’s wide-ranging tariffs on China and other nations, according a guidance from U.S Customs and Border Protection released late Friday night.

The policy is a major boon to U.S. tech companies like Apple, which produces most of iPhones in China.

It’s also the latest, seemingly ad hoc adjustment in a tariff policy that’s changed every few days, after Trump announced on Wednesday he would pause a series of “reciprocal” tariffs on U.S. trading partners that rattled financial markets, while increasing tariffs on China to 125 percent.

This is a breaking news story and will be updated with new information.