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WASHINGTON — Markets on Monday welcomed a US tariffs reprieve for electronics, but President Donald Trump warned no country would get "off the hook" in his trade war -- especially China.

The world's two largest economies have been locked in a fast-moving game of brinkmanship since Trump launched a global tariff assault that particularly targeted Chinese imports.

Tit-for-tat exchanges have seen US levies imposed on China rise to 145 per cent, and Beijing setting a retaliatory 125 percent band on US imports.

The US side had appeared to dial down the pressure slightly on Friday, listing tariff exemptions for smartphones, laptops, semiconductors and other electronic products for which China is a major source.

But Trump and some of his top aides said Sunday that the exemptions had been misconstrued and would only be temporary as his team pursued fresh tariffs against many items on the list.

"NOBODY is getting 'off the hook'... especially not China which, by far, treats us the worst!" he posted on his Truth Social platform.

The Chinese commerce ministry said Friday's move was only "a small step" and all tariffs should be cancelled.

Chinese President Xi Jinping warned Monday -- as he kicked off a Southeast Asia tour with a visit to Vietnam -- that protectionism "will lead nowhere" and a trade war would "produce no winner".

Writing in an article published in a Vietnamese newspaper, Xi urged the two countries to "resolutely safeguard" the multilateral trading system, global supply chains and a "cooperative international environment".

China has sought to present itself as a stable alternative to an erratic Washington, courting countries spooked by the global economic storm.

Trump's trade war has raised fears about an economic downturn as the dollar has tumbled and investors have dumped US governments bonds.

Asian and European stock markets rallied on Monday, after days of extreme volatility over several tariff twists and turns since Trump presented his "Liberation Day" levies on April 2.

The Paris, Frankfurt and London stock exchanges were up around two percent in morning deals, while Tokyo finished 1.2 per cent higher and Hong Kong gained more than two percent.

Trump has imposed a universal tariff of 10 percent but paused higher duties for dozens of trading partners for 90 days, while maintaining pressure on China.

Short-lived relief? 

Washington's new exemptions will benefit US tech companies such as Nvidia and Dell as well as Apple, which makes iPhones and other premium products in China.

The relief could be short-lived with some of the exempted consumer electronics targeted for upcoming sector-specific tariffs on goods deemed key to US national defense networks.

On Air Force One Sunday, Trump said tariffs on the semiconductors -- which powers any major technology from e-vehicles and iPhones to missile systems -- "will be in place in the not distant future."

"Like we did with steel, like we did with automobiles, like we did with aluminum... we'll be doing that with semiconductors, with chips and numerous other things," he said.

"We want to make our chips and semiconductors and other things in our country," Trump reiterated, adding that he would do the same with "drugs and pharmaceuticals."

The US president said he would announce tariffs rates for semiconductors "over the next week," while his commerce secretary, Howard Lutnick, said they would likely be in place "in a month or two."

The White House says Trump remains optimistic about securing a deal with China, although administration officials have made it clear they expect Beijing to reach out first.

Trump's trade representative, Jamieson Greer, told CBS's "Face the Nation" on Sunday that "we don't have any plans" for talks between the US president and Xi.

Japan negotiates 

The White House insists the aggressive policy is bearing fruit, saying dozens of countries have already opened trade negotiations to secure deals before the 90-day pause ends.

"We're working around the clock, day and night, sharing paper, receiving offers and giving feedback to these countries," Greer told CBS.

Japanese Economic Revitalisation Minister Ryosei Akazawa will visit Washington for negotiations this week, with his country's automakers hit by Trump's 25 per cent tariffs on the auto sector.

He warned that Japanese company profits are already "being cut day by day".

AMMAN — Director-General of the Agricultural Credit Corporation (ACC) Mohammad Dogan said that the ACC agreement signed with the World Food Programme (WFP), which was recently approved by the Council of Ministers, represents a "qualitative" step in supporting Jordan's small- and large-scale farmers to confront climate change challenges.

On its goals, Dogan said that this step aims to finance projects that integrate modern agricultural practices that contribute to achieving Jordan's food security and developing production chains, according to the Jordan News Agency, Petra.

Dogan added that the agreement, which aims to support and develop climate-resilient agriculture with a total value of JD3.5 million, seeks to enhance resilience of Jordan's farmers by providing modern agricultural practices that take into account "sustainable" agri-development.

The director-general said that the agreement mainly targets water-smart and water-saving agricultural activities, as well as crops with “high” economic returns, primarily saffron cultivation and packaging projects.

Under the agreement, financing for two types of projects is secured, he said, adding that individual businesses will receive loans of up to JD10,000, while medium-sized agricultural enterprises' projects will get loans of up to JD70,000 interest-free, as the programme will pay the interest costs.

These projects is set to target the governorates of Mafraq, Jerash and Balqa, ensuring that support is directed to the areas, which are the "most vulnerable and most affected "by climate change, he pointed out.

Dogan noted that this cooperation would contribute to stimulating expansion of the use of smart agricultural technologies and alleviating the financial burdens on farmers, achieving resource sustainability, enhancing productivity and quality of local agricultural products, and addressing climate change consequences.

AMMAN — The Ministry of Industry, Trade and Supply issued a new directive lifting the export and re-export ban on selected food commodities, while maintaining restrictions on others to safeguard local market stability and strategic reserves.

Under Decision No. 41 of 2025, reviewed on Sunday by the Jordan News Agency, Petra, the ministry approved the export and re-export of wheat, flour, semolina, and specific types of dried legumes, namely chickpeas, lentils and fava beans.

The ministry chose to keep in place the ban on exporting and re-exporting key staple items, including rice, sugar, and vegetable oils, specifically corn oil, sunflower oil, palm oil and soybean oil.

Ministry Spokesperson Yanal Barmawi said that the continued restrictions on certain goods were put in place ahead of the month of Ramadan to ensure a "secure" and "strategic" stock of essential commodities and to maintain market price stability through balanced supply and demand.

He added that the decision to lift restrictions on other items was based on the presence of sufficient "strategic" reserves, allowing the private sector to resume export and re-export activities without impacting domestic availability.

The ministry stressed that such decisions are part of ongoing efforts to ensure food security while supporting the competitiveness of Jordanian exporters in regional and international markets.

AMMAN — Industrialists, confronting a “complex” global trade landscape, are advocating for a "strategic" pivot towards untapped markets and enhanced domestic competitiveness to bolster export performance.

The call comes as manufacturers grapple with rising costs and evolving international demand, seeking to leverage existing trade agreements and forge new alliances.

Industry leaders, speaking to the Jordan News Agency, Petra, on Sunday, emphasised the imperative for a comprehensive export strategy, one that aligns with Jordan's Economic Modernisation Vision (EMV) and the National Export Strategy.

This strategy, they argue, must encompass targeted market penetration, tailored to the nuances of distinct economic blocs, and the attraction of foreign direct investment to stimulate domestic production.

Data from the Jordan Chamber of Industry (JCI) reveals a diversified export profile, with chemical products and cosmetics leading at 23 per cent, followed by leather and textiles 22 per cent, engineering and electrical goods 18 per cent, and mining industries 13 per cent.

The sector, comprises 18,000 establishments, produces 1,500 product lines valued at JD17 billion annually, with exports reaching 150 countries. 

However, export growth in 2024 remained modest at 1.4 per cent, totalling JD7.8 billion.

Chairman of the Jordanian Exporters Association (JEA) Ahmad Khudari identified Latin America and Africa as “key” markets for expansion. 

He urged that the reactivation of the Mercosur agreement and the pursuit of "preferential" trade arrangements to mitigate market saturation.

Khudari also proposed exploring trade ties with Russia and advocating for a 10 per cent reduction in customs duties to maintain competitive pricing.

President of the Zarqa Chamber of Industry (ZCI) Fares Hammoudeh underscored the need for a "holistic" export strategy, aligned with national economic objectives. 

He advocated for targeted support for manufacturers in "niche" sectors, particularly those with established brands in food, engineering, and chemicals.

Hammoudeh also called for regulatory adjustments to facilitate the production of export-oriented goods and tax incentives to reduce production costs.

Board member of the Amman Chamber of Industry (ACI) Majdi Hashlamoun stressed the importance of market research and targeted marketing campaigns to exploit export opportunities. 

He also proposed incentive programmes to reward manufacturers who successfully penetrate new markets.

Fawaz Shakaa, representing the handicrafts sector, highlighted the need for import substitution to protect domestic industries, citing trade imbalances with neighbouring countries.

Abdul Hakim Zaza, an industrialist, identified high production costs and limited market access as “key” challenges. 

He advocated for cost reduction strategies, market diversification, and enhanced export readiness through e-commerce and logistics improvements.

Zaza also cited International Trade Centre data indicating $6 billion in untapped export potential, particularly in India, the US and Saudi Arabia.

A recent report by the Jordan Strategy Forum highlighted export opportunities in the Middle East, South Asia, North America, Europe and East Asia, particularly in fertilisers, chemicals, apparel and minerals. 

The report also identified "significant" import substitution potential in sectors such as food, apparel, packaging and plastics.

WASHINGTON — The Trump administration has exempted a raft of consumer electronics from its punishing import tariffs — offering relief to US tech firms and partially dialling down a trade war with China.

A notice late Friday by the US Customs and Border Protection office said smartphones, laptops, memory chips and other products would be excluded from the global levies President Donald Trump rolled out a week ago.

The move came as retaliatory Chinese import tariffs of 125 percent on US goods took effect Saturday, with Beijing standing defiant against its biggest trade partner.

The exemptions will benefit US tech companies like Nvidia and Dell, as well as Apple, which makes iPhones and other premium products in China.

And they will generally narrow the impact of the staggering 145 per cent tariffs Trump has imposed this year on Chinese goods entering the United States.

US Customs data suggests the exempted items account for more than 20 per cent of those Chinese imports, according to senior RAND researcher Gerard DiPippo.

Although listed among the exempted goods, semiconductors could still become a target of industry-specific tariffs Trump has suggested placing on imports from all countries.

Trump said Saturday that he would give a "very specific" answer to the question of any future semiconductor levies on Monday.

Washington and Beijing's escalating tariff battle has raised fears of an enduring trade war between the world's two largest economies and sent global markets into a tailspin.

The fallout has sent particular shockwaves through the US economy, with investors dumping government bonds, the dollar tumbling and consumer confidence plunging.

Adding to the pressure on Trump, Wall Street billionaires -- including a number of his own supporters -- have openly criticized the whole tariff strategy as damaging and counter-productive.

Tech relief 

Daniel Ives, senior equity analyst at Wedbush Securities, called the US exemptions the "best news possible" for tech investors.

The exclusions remove "a huge black cloud" that had threatened to take the US tech sector "back a decade" and significantly slow AI development, Ives said in a note.

Many of the exempted products, including hard drives and computer processors, are not generally made in the United States, with Trump arguing tariffs are a way to bring domestic manufacturing back.

Commenting on the exemptions announcement, White House Press Secretary Karoline Leavitt insisted that the likes of Apple and Nvidia were still "hustling to onshore their manufacturing in the United States" as soon as possible.

Many analysts, however, say it will likely take years to ramp up domestic production.

With tariffs still in force on less complex products, Trump's "exemptions will not reshore iPhones or tech goods and they will not reshore either cheap goods we can't and won't produce at home," New York University economist Nouriel Roubiniposted Saturday on X.

The president's policy was "contradictory, dissonant, inconsistent and incoherent... taken by the seat of the pants," he added.

China 'not afraid' 

Even with Washington and Beijing going toe to toe and financial markets in turmoil, Trump has remained adamant that his tariff policy is on the right track.

Beijing has vowed not to give in to what it sees as bullying tactics, and -- in his first comments on the tensions -- President Xi Jinping stressed Friday that China was "not afraid."

Economists warn the disruption in trade between the tightly integrated US and Chinese economies will increase prices for consumers and could spark a global recession.

The US alone buys up 16.4 per cent of Chinese exports, according to Beijing's trade data, making for total exchanges between the two countries worth $500 billion -- with the US sending significantly less the other way.

China's Commerce Minister Wang Wentao told the head of the World Trade Organization (WTO) that US tariffs will "inflict serious harm" on poor nations.

"The United States has continuously introduced tariff measures, bringing enormous uncertainty and instability to the world, causing chaos both internationally and domestically within the US," Wang told WTO chief Ngozi Okonjo-Iweala in a call.

The White House says Trump remains "optimistic" about securing a deal with China, although administration officials have made it clear they expect Beijing to reach out first.

AMMAN — Jordan Industrial Estates Company (JIEC) and Morocco's Deposit and Management Fund (CDG) on Saturday signed a memorandum of understanding (MoU) to establish a "strategic" partnership to strengthen technical and practical relations to promote "sustainable" development and increase added value to empower and advance of the two countries' economies.

The agreement, which was signed by JIEC Director General Omar Juwaid, and CDG's Director General, Khaled Safir, saw attendance of Moroccan Ambassador to Jordan Fouad Akhrif and the two sides' officials.

According to a JIEC statement, the MoU came as part of the CDG's delegation's visit to Jordan to learn about the expertise of several Jordanian institutions, mainly this Jordanian company.

The memo establishes cooperation in areas of mutual interest, primarily institutional fields, investment, training, technology, development, corporate governance, and assessment and decision-making mechanisms.

Speaking at the signing ceremony, Juwaid highlighted the "deep-rooted" Jordanian-Moroccan relations, under the two kingdoms' leadership within visits and joint working committees in all fields, primarily in the economic areas.

Juwaid also highlighted the "comprehensive growth" in Jordanian industrial estates over the past forty years, which have become the "largest" incubator for industrial investments in Jordan, noting their "distinguished" contributions to employing Jordanian workers and driving economic development.

Meanwhile, the Moroccan envoy said the visit falls within the practical implementation of a "strategic" partnership, based on "solid" foundations and pillars.

The diplomat added that the MoU reflects the "deep-rooted and close, brotherly" bilateral ties and seeks to establish an "advanced model" of technical and institutional cooperation to achieve common interests.

Akhrif added that the memo represents a "fundamental" step to enhance integration and consolidate cooperation ties, which would contribute to success of joint projects, develop institutional capacities, and achieve future goals and aspirations, serve the two countries' economic, social and human development.

Under the memo, the two sides will exchange information and expertise and prepare consultations to conduct joint and agreed-upon studies and projects.

Additionally, both sides will coordinate and prepare field studies to achieve digital transformation in their operations to keep pace with requirements of the industrial revolution and contribute to accelerate transition to the next generation in this field.

Cooperation will also be made to organise events, workshops, and meetings to coordinate and exchange views on issues of common interest through local and international forums, and unify efforts, in a bid to develop industry and enhance the two kingdoms' integration in this area, according to the statement

AMMAN — The International Monetary Fund (IMF) mission on Saturday began discussions on the third review of Jordan's programme under the Expanded Facility (EPI), after the IMF's Executive Board completed the second review consultations under the same agreement at the end of last year.

The IMF mission will hold discussions on Sunday with the ministries of finance, social development, industry and trade, and environment, and other ministers, senior government officials and officials of the Central Bank of Jordan (CBJ), as the mission is likely to conclude its discussions next Thursday.

The success of the second review of Jordan's facility-supported programme will result in a new payment of the Special Drawing Rights Unit (SDR) 97.784 million (around $130 million).

In its previous response to the Al-Mamlaka TV questions, the IMF stressed that Jordan has shown resilience in the face of the repercussions of long regional conflicts and maintained macroeconomic stability.

This resilience reflects the Jordanian government's continued implementation of sound macroeconomic policies, along with progress in economic reforms, explaining that recent developments in the region, especially the ceasefire agreements in Gaza and Lebanon, give some cautious optimism, but economic uncertainty remains high in the region.

The IMF predicted that Jordan's economy will grow by 2.5 per cent in 2025, with another increase expected in 2026 of up to 3 per cent, after achieving growth of 2.3 per cent last year.

The IMF will update its growth forecasts in its World Economic Outlook for April, as well as the comprehensive assessment of its mission to Jordan in the same month.

Last December, the IMF's Executive Board approved the second review of Jordan's Extended Fund Facility-supported programme, bringing total payments to Jordan under the programme to SDR 339.67 million (around $453 million(

The audit showed that commitments related to the second review had been met, reflecting the authorities' firm commitment to sound macroeconomic policies and continued progress on reforms.

LONDON — Stocks markets rocketed and the dollar fell Thursday after Donald Trump paused steep tariffs on most countries, while investors appeared to brush off the US president's decision to ramp up duties on China.

Trump's shock decision Wednesday to delay most of the new tariffs by 90 days drove the European Union to put its counter-tariffs on hold, boosting European and Asian indices.

Trump's announcement came after European stock markets had closed down by around three percent Wednesday, but in time to send Wall Street soaring.

Trump back tracked on the punishing tariffs after global equities plummeted and US Treasuries -- considered the safest option in times of crisis -- showed signs of cracking.

But he kept a baseline 10 per cent tariff intact and ramped up his trade war with Beijing by hiking duties Chinese goods to 125 per cent after facing strong retaliation.

Global stock markets soared in response.

Paris and Frankfurt cruised almost six percent higher in afternoon deals Thursday while London advanced around 4.5 per cent.

In Asia, Tokyo surged nine percent.

While the tariffs pause was welcomed by investors, "the lack of long-term clarity may become more of an issue as time goes on", said AJ Bell investment director Russ Mould.

Chinese markets also gained support Thursday from optimism that Beijing will unveil fresh stimulus measures to support its economy.

Hong Kong rose more than two percent -- a third day of gains after collapsing more than 13 percent on Monday, its worst trading day since the Asian financial crisis in 1997.

Shanghai ended up more than one percent Thursday.

"Crucially, we are currently still on course for a disorderly economic decoupling between the world's two largest economies, with no immediate signs of either US or China backing down," said Jim Reid, an analyst at Deutsche Bank.

US Treasury yields have edged down after a successful auction of $38 billion in notes.

That eased pressure on the bond market, which had fanned worries that investors were losing confidence in the United States.

Elsewhere in Asia, Seoul, Singapore, Jakarta, Sydney, Saigon and Bangkok climbed between four and 6.6 percent.

Tech firms were the standout performers, with Sony, Sharp, Panasonic and SoftBank chalking up double-digit gains, while airlines, car makers and casinos also enjoyed strong buying.

Europe's banking sector soared, with Barclays and Deutsche Bank up 10 percent while French banks BNP Paribas and Societe Generale gained around eight percent.

Gold climbed almost three percent to $3,120 an ounce -- around $50 short of its record touched last month -- thanks to the weaker dollar and the metal's safe-haven status.

Trump's trade war is causing a headache for the Federal Reserve as it weighs cutting interest rates to protect the economy, or holding them steady to ward off the inflation many analysts say tariffs will fuel.

Investors are awaiting data later in the day that is expected to show US inflation slowed in March.

Oil prices dropped after bouncing more than four percent Wednesday, though they remain under pressure amid concerns about the global economy and its impact on demand.