More tariff exemptions, but equities lose their early gains

Tuesday 15th April 2025

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US equities kicked off Monday’s session sharply higher on Friday's news of tariff exemptions for certain electronics items. Apple was one of the big beneficiaries. But as the session progressed most of those gains diminished, perhaps as President Trump’s weekend social media post sank in, suggesting nobody was exempt, they were just being moved to a different tariff bucket. Then, news circulated that car parts may also be exempt, pushing up the share price of auto manufacturers. NAB’s Ray Attrill joins Phil to make sense of the latest moves and to pick through the data that is still helping to guide investors.

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