#TariffsPause

Trump Halts Tariffs for 75+ Countries—Markets Soar, China Tariffs Escalate

#TariffsPause

Stocks surge globally after Trump announces 90-day tariff pause—China excluded

President Donald Trump announced a 90-day suspension of newly imposed tariffs on over 75 countries that did not retaliate after his recent trade measures. However, China—whose response included steep tariffs on U.S. products—will face an even harsher penalty: tariffs on Chinese imports will now rise to 125%.

The announcement, which came just a day after the new tariffs took effect, was framed by Treasury Secretary Scott Bessent as a strategic move to push countries to the negotiating table.

The surprise pause sent U.S. stocks skyrocketing. The S&P 500 rallied 9.5%, although it remains below its level prior to last week’s tariff rollout. The Dow Jones industrial average leapt nearly 3,000 points, while the Nasdaq jumped 12.2%.

According to The Guardian, the move provided much-needed relief to rattled markets around the world, which had been hit by intense volatility since the tariffs began. The dramatic reversal also appeared to follow a significant uptick in U.S. bond yields and a global selloff reminiscent of the early COVID-19 panic.

“I thought people were jumping a little bit out of line, they were getting yippy, you know,” Trump told reporters after the announcement.

Global markets rebound sharply:

• Taiwan: +9.2%

• Japan (Nikkei 225): +7.2%

• South Korea (Kospi): +5%

• Australia (ASX 200): +6%

• Hong Kong (Hang Seng): +2.7%

• China (Shanghai Composite): +1.3%

European markets, which had closed before the pause was announced, were expected to open significantly higher Thursday morning.

While the pause offers short-term relief, the steep escalation in tariffs on China signals a deeper entrenchment in the U.S.-China trade conflict, with uncertain consequences ahead.