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10/04/2025 02:46 AST
President Donald Trump announced a 90 day pause on his sweeping tariffs Wednesday, giving all countries a 10 percent baseline except China, which will see even higher levies.
"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," Trump wrote on Truth Social.
Saying that more than 75 countries had asked for negotiations over the tariffs, Trump said he "authorised a 90 day PAUSE, and a substantially lowered Reciprocal Tariff during this period, of 10%, also effective immediately."
Nasdaq jumps more than 10%
Wall Street forged ahead with a rally on Wednesday afternoon, with the tech-focused Nasdaq soaring more than 10 percent shortly after Trump's announcement.
Following the halt on higher duties - which originally hit US allies and competitors alike - the Nasdaq Composite Index jumped 10.8 percent to 16,917.49, while other major indexes also rocketed higher.
AFP
| Ticker | Price | Volume |
|---|
| Index | Closing | Change |
|---|---|---|
| NIKKEI 225 | 36,581.76 | -251.51 (-0.68 |
| DAX | 18,699.40 | 181.01 (0.97 |
| S&P 500 | 5,626.02 | 30.26 (0.54 |
14/04/2025
Financial markets faced significant turbulence past week as US-China trade tensions intensified, triggering sharp moves across currencies, equities, and commodities.
The US dollar dropped st
Kuwait Times
14/04/2025
US President Donald Trump's administration granted exclusions from steep tariffs on smartphones, computers and some other electronics imported largely from China, providing a big break to tech firms
Reuters
14/04/2025
New bank loans in China rebounded more than expected in March, recovering from a sharp drop the previous month, as policymakers pledge to ramp up stimulus to buttress the world's second-largest econo
Reuters
14/04/2025
The Lebanese government has approved a draft law to reform and restructure the country's banking sector, marking a significant step toward addressing the financial crisis that has persisted since 201
Arab News
12/04/2025
Americans are rarely this pessimistic about the economy.
Consumer sentiment plunged 11% this month to a preliminary reading of 50.8, the University of Michigan said in its latest survey rel
Saudi Gazette
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