WASHINGTON ― President Donald Trump said he's considering temporary exemptions from his 25% tariffs on the auto industry to give car companies more time to transition to manufacturing in the U.S. Trump's remarks Monday from the Oval Office came after his administration last week excluded smartphones,

US stock markets rose on Monday after the White House said tariffs on imports of Chinese-made smartphones and some other electronics devices would not apply. The rollback, issued early on Saturday, may end up being short-lived after President Donald Trump said these goods were simply being moved into a different tariff group or "bucket".

U.S. stocks climbed in Monday trading following the White House announcement that key consumer electronics would be temporarily exempted from tariffs.