Trump suggests tariff exemption for China-made smartphones could be short-lived

BBC update:

US President Donald Trump suggests tariff exemptions for smartphones and other tech products imported from China could be short-lived.

On Friday, the US exempted certain products from the 145% tariff on Chinese imports.

But writing on social media, Trump says "nobody is getting off the hook for unfair trade balances".

He says Chinese tech will still be subject to 20% tariffs and "are just moving to a different tariff bucket".

Chinese officials earlier called on Trump to "completely cancel" the import taxes, urging him to take a "big step to correct its mistakes".

Trump's back-and-forth on tariffs last week caused major swings in global financial markets - but European markets rose in early trading on Monday.