US stock markets experienced a significant uptick following the announcement by President Donald Trump, who declared a 90-day halt on tariffs for select nations.
In his announcement, the President stated that he would reduce the tariff rate to 10% for countries that refrain from imposing retaliatory fees. Conversely, he noted that the tariff rate on China would be raised to 125% due to that nation’s countermeasures against the US. In a post made on April 9, Trump expressed his hope that, “At some point, hopefully, in the near future, China will realize that the days of ripping off the USA and other countries is no longer sustainable or acceptable.”
According to TradingView data, the S&P 500 index surged nearly 7%, while the Nasdaq climbed around 8% in response to the announcement, highlighting the market’s volatility amidst ongoing economic uncertainties and the looming risk of an extended trade war.
This is a developing story, and updates will be provided as more information emerges.