US stock markets surged following President Donald Trump's announcement of a 90-day pause on tariffs for certain countries.
United States President Donald Trump has issued a 90-day pause for "reciprocal tariffs" and lowered the tariff rate to 10% on countries that do not retaliate with counter-tariffs.
However, the President also said he would increase the reciprocal tariff rate on China to 125% due to the country's counter-tariffs against the US. Trump wrote in an April 9 Truth Social post:
According to data from TradingView, the S&P 500 index rallied by close to 7% following the announcement, showcasing the high volatility of capital markets amid the macroeconomic uncertainty and the potential for a protracted trade conflict.
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