US tariffs exemptions for electronics prompted market rallies Monday from Asia to Wall Street but failed to settle nerves over a global trade war that Chinese leader Xi Jinping warned would have "no winner."

Wall Street was buoyant, with the Dow Jones index rising one percent shortly after the opening and the S&P 500 up 1.45 percent. This followed boosts on Asian and European markets.

Investors are relieved at the apparent easing of pressure in President Donald Trump's wide-ranging but often chaotic attempt to reorder the world economy by using tariffs to force manufacturers to relocate to the United States.

Tit-for-tat exchanges have seen US levies imposed on China this year rise to 145 percent, and Beijing setting a retaliatory 125 percent barrier on US imports.

But even the electronics tariff reprieve -- that US officials late Friday said would mean exemptions from the latest 125 percent duties against China for a range of high-end tech goods such as smartphones, semiconductors and computers -- brought new uncertainty.

Trump suggested Sunday that the........

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