Trump Imposes 90-Day Pause on Tariffs

As the war of the tariffs rages on, President Trump imposed a 90-day pause on the tariffs that went into effect Wednesday at midnight — discluding China.

Trump reportedly hiked the tariffs further, imposing 125% on Chinese exports on Wednesday.

This comes following Trump’s announcement of imposing 104% tariffs across all Chinese imports in response to Beijing’s retailiation of 34% tariffs on all goods imported from the US.

China’s retaliation stems from President Trump’s recent imposition of 10%-15% tariffs on some US agriculture goods in March and 10%-15% tariffs on some energy and farming machinery in February.

Earlier this week, China said it is increasing its tariffs on US products to 84%, up from its previously announced 34%.

Asian Markets Soar

As a result of the tariff stoppage, Asian markets reportedly soared on Thursday.

Japan’s Nikkei reportedly soared 9.1%, while South Korea’s Kospi saw an uptick of 6.6%, taking the Seoul index out of bear market territory.

Taiwan’s composite index increased 9.25% — days after it charted its largest one-day drop on record, per reports.

Hong Kong’s Hang Seng Index gained 2%, while key indices in China saw a marginal rise.

Read Kline Group’s strategies on how companies can stay vigilant amid tariffs’ negative consequences here.