April 10, 2025 - US President Donald Trump has suddenly announced a 90-day pause on tariff increase on all countries. However, China is excluded from this list. In fact, Trump has increased the tariff hike on China to 125 per cent, up from the earlier announced 104 per cent.

"Based on the lack of respect that China has shown to the World's Markets, I am hereby raising the Tariff charged to China by the United States of America to 125%, effective immediately. At some point, hopefully in the near future, China will realize that the days of ripping off the US and other countries, is no longer sustainable or acceptable," Trump wrote on the social media platform Truth Social.

Trump’s decision to hold back on the tariff increase has taken the global markets by surprise and a sharp rally was seen in most markets. On the back of this positive news coming out of the US, Asian markets, which had been trading lower, showed a sharp bounceback in early trade today. Japan’s benchmark Nikkei 225 index moved up 8 per cent, South Korea’s Kospi index was up more than 5 per cent and Australia’s ASX 200 was also up by 5 per cent.

Trump’s pause on tariffs had the US stocks surging higher, too. The Wall Street rallied with the S&P soaring 9.5 per cent for its biggest daily gain since 2008. The Dow Jones spiked by 7.9 per cent while the Nasdaq Composite rose by 12.2 per cent for its biggest gain since January 2001.

The Indian stock markets are closed today, April 10, on account of Mahavir Jayanti.

With Media Inputs