Trump announces 90-day tariff pause, duties on China raised to 125%
PTC News Desk: Donald Trump has announced a 90-day pause on tariffs for 75 countries including India. This decision brought some relief to global investors amid rising trade tensions.
Japan's Nikkei 225 index jumped over 8.34 per cent, while Taiwan's weighted index gained more than 9 per cent at the time of reporting. South Korea's KOSPI index also rose sharply, climbing over 5 per cent.
Despite the temporary relief for some countries, the trade war between the US and China continued to escalate. On Wednesday, President Trump announced an immediate hike in tariffs on Chinese goods to 125 per cent. This move came in response to China raising its tariffs on US goods from 34 per cent to 84 per cent, starting April 10.
At the same time, Trump said he would reduce tariffs for the 75 countries currently engaged in trade talks with the United States, offering a 90-day break and a lower reciprocal tariff structure. India is among these countries.
- With inputs from agencies
