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US president Donald Trump arrives at the White House in Washington, DC, on April 13, 2025. | AFP photo.

Stock markets on Monday welcomed US tariff exemptions for electronics, but President Donald Trump signalled the reprieve would be temporary and 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.