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Stocks rebound after US agrees to delay tariffs on cellphones, laptops

Wall Street snapped a two-day losing streak — and sent shares of Apple soaring — after the US said it will delay imposing tariffs on certain items that were supposed to take effect on Sept. 1. Cellphones, laptops, and some apparel items will not be affected by the 10 percent tariffs President Trump planned to impose next month, the United States Trade Representative announced Tuesday, citing “health, safety, national security and other factors” as reasons for the delay. Those items will be subjected to the tariffs starting Dec. 15. The delay was enough to propel stocks — which had been hampered over the last few weeks on trade worries — upward. The Dow Jones Industrial Average climbed more than 500 points — or 1.9 perce ...
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