The reason for the surge in US stocks last night and A-shares today is: there is now a 125% tariff on China, while other countries have a basic tariff of 10%. Coupled with a 90-day suspension of negotiations, people have realized that goods can be imported into the US through third-party countries (this is also why Apple saw its largest gain in 20 years last night, as well as today's Luxshare Precision). Therefore, this 90-day period gives exporting companies a breather to plan for future arrangements.

Now, the 125% tariff on China is more symbolic, as it doesn't hold much significance anymore.