Asian Markets Soar After Trump Pauses Higher Tariffs But Hikes Rate For China

by Staff Writer 10-04-2025 | 7:08 AM

Financial markets in the Asia-Pacific region have jumped hours after US President Donald Trump announced a 90-day pause on most 'reciprocal' tariffs.
Japan's Nikkei 225 index soared by more than 8%, with one expert saying the region is 'breathing a massive sigh of relief'.
In the US, Wall Street made historic gains on Wednesday following news of the reprieve, following days of economic turmoil.
However, higher tariffs rates on China remain, with Trump hitting Beijing with an even higher levy of 125%.
It came hours after China announced an 84% tariff on goods imported from the US.
However a "universal 10%" levy will be in place for most countries.
Speaking at a Nascar event at the White House, Trump maintains that "fair deals" will be made with China and every other country.
Source: BBC