TORONTO – Canada’s main stock index was up more than 200 points in early trading while U.S. markets pushed higher even after U.S. Commerce Secretary Howard Lutnick said Sunday that U.S. tariff exemptions on electronics like smartphones and laptops would be only a temporary reprieve.
Lutnick said the Trump administration is developing a new tariff approach specific to the semiconductor industry.
The comments came after the White House had said Friday it would exclude electronics from broader so-called reciprocal tariffs.
The S&P/TSX composite index was up 217.95 points at 23,805.75.
In New York, the Dow Jones industrial average was up 437.24 points at 40,649.95. The S&P 500 index was up 84.03 points at 5,447.39, while the Nasdaq composite was up 338.82 points at 17,063.28.
The Canadian dollar traded for 72.00 cents US compared with 71.99 cents US on Friday.
