HP Inc (HPQ) shares surged 6.66% in the market, following news that President Trump has exempted several electronics, including laptops and computer monitors, from his recently imposed tariffs on Chinese imports. This move comes as a significant relief for tech companies like HP, which heavily rely on Chinese manufacturing for their products.

The exemption, detailed in new guidance published by U.S. Customs and Border Protection, covers a wide range of tech products including smartphones, laptop computers, memory chips, and other electronics. This decision effectively erases the latest tariffs that were imposed on many consumer electronics, providing a boost to companies in the tech sector.

For HP Inc, a major player in the personal computer and printer market, this exemption could significantly impact its bottom line. The company, like many of its peers, has been grappling with the potential consequences of escalating trade tensions between the U.S. and China. The tariff exemption is likely seen by investors as a positive development that could help maintain HP's profit margins and competitive pricing in the market.