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Chip Stocks Rise Midday as Some Chinese Tariffs Delayed

Investing.com - Semiconductor companies were higher in midday trade Friday after news that the U.S. will delay tariffs on some Chinese products helped boost the sector.

Chinese exporters have another two weeks to get some products to the U.S. before tariffs are increasing, according to a U.S. government notice.

The Trump administration had increased tariffs from 10% to 25% on Chinese goods in order to pressure Beijing into making a trade deal.

The news helped lift semiconductor companies, as they rely on products and resources from China.

Micron (NASDAQ:MU) rose 0.4%, while Intel (NASDAQ:INTC) was up 0.6% and Qualcomm (NASDAQ:QCOM) gained 0.4%. Broadcom (NASDAQ:AVGO) was up 0.7%, while Nvidia (NASDAQ:NVDA) gained 1%.

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