Tuesday, September 30, 2025
14.8 C
Srinagar

Asian markets rallied after Trump announces 90-day pause on tariffs, Indian markets closed for Mahavir Jayanti

New Delhi: Asian stock markets surged on Thursday after US President Donald Trump 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.

Hong Kong’s Hang Seng index was up around 4 per cent. However, the Indian stock markets remained closed on Thursday due to the public holiday of Shri Mahavir Jayanti.

Despite the temporary relief for some countries, the trade war between the US and China continued to escalate. On Wednesday (local time), 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.

“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 USA and other Countries are no longer sustainable or acceptable,” Trump said on the social media platform Truth Social.

“Conversely, and based on the fact that more than 75 Countries have called Representatives of the United States, including the Departments of Commerce, Treasury, and the USTR, to negotiate a solution to the subjects being discussed relative to Trade, Trade Barriers, Tariffs, Currency Manipulation, and Non Monetary Tariffs, and that these Countries have not, at my strong suggestion, retaliated in any way, shape, or form against the United States, I have authorized a 90 day PAUSE, and a substantially lowered Reciprocal Tariff during this period, of 10%, also effective immediately. Thank you for your attention to this matter!” he added. (ANI)

Hot this week

CM Omar Abdullah Says Statehood is J&K’s Right, Cautions Against Ladakh-Like Fallout

Ganderbal, Sept 29,: Chief Minister Omar Abdullah on Monday...

Pakistan’s Double Standards Exposed : Shedding Innocent Blood at Home While Preaching on Jammu Kashmir

Pakistan’s recent airstrikes in the Tirah Valley of Khyber...

Leh Apex Body withdraws from talks with Centre

Seeks unconditional release of Wangchuk, withdrawal of cases against...

Indian Nursing Council Derecognises 13 Nursing Institutes in Jammu and Kashmir, No Word from J&K Government Weeks After INC Action

Srinagar:The Indian Nursing Council (INC) has formally withdrawn recognition...

Srinagar’s Famous ‘Batte Gali’ Food Street Shifts Away from Meat Dishes

Vegetable and Pulse-Based Meals Dominate as Customers Shun Meat Srinagar:The...

Topics

CM Omar Abdullah Says Statehood is J&K’s Right, Cautions Against Ladakh-Like Fallout

Ganderbal, Sept 29,: Chief Minister Omar Abdullah on Monday...

Leh Apex Body withdraws from talks with Centre

Seeks unconditional release of Wangchuk, withdrawal of cases against...

Srinagar’s Famous ‘Batte Gali’ Food Street Shifts Away from Meat Dishes

Vegetable and Pulse-Based Meals Dominate as Customers Shun Meat Srinagar:The...

Sopore Police Arrest Notorious Fraudster Wanted in 19 Cases

Sopore: Sopore Police have apprehended a notorious fraudster and...

Pregnant woman found “mysteriously” dead in Langate, probe launched

Srinagar: The Jammu and Kashmir police have launched a...
spot_img

Related Articles

Popular Categories

spot_imgspot_img