President Trump suspends reciprocal tariffs with more than 75 countries excluding China, and IT industry stock prices rise across the board, including NVIDIA shares up 19%.
President Trump has approved a 90-day suspension of additional tariffs on more than 75 countries that have not retaliated against the new reciprocal tariffs imposed by the United States, and an immediate reduction to 10% of reciprocal tariffs. In response to this, the stock prices of NVIDIA, Apple, Meta, Amazon, Microsoft, Alphabet, and other companies have risen in the stock market.
Nasdaq rallies most since 2001, notches second-best day ever
Asia markets live: Stocks rise
https://www.cnbc.com/2025/04/10/asia-markets-live-trump-tariff-pause-rally.html
According to a post made by President Trump on his social media account, Truth Social, over 75 countries have contacted the Department of Commerce, the Department of Treasury, the Office of the United States Trade Representative, etc., requesting negotiations on a solution regarding the 'Trump Tariffs.' As a result, after confirming that the countries that contacted him were not taking any retaliatory measures against the United States, he approved a 90-day suspension of additional tariffs and an immediate reduction of reciprocal tariffs to 10% during that period.
Following the temporary suspension of the additional tariffs, NASDAQ saw its stock prices rise 12%, the second highest increase in history. In particular, NVIDIA's stock price rose 19%, Apple's stock price rose 15%, the highest since 1998, Meta's stock price also rose 15%, Amazon's stock price rose 12%, and Microsoft and Google's parent company Alphabet rose 10%. These IT companies were hit hard when the tariff measures were announced.
President Trump's announcement of mutual tariffs hits the tech industry hard, causing stock prices of Apple, Amazon, Meta, NVIDIA, Alphabet and Microsoft to plummet - GIGAZINE
By Gage Skidmore
The Nikkei Stock Average also rose 7.77%, recovering to the 34,000 yen range for the first time in a week since the tariffs were announced.
Nikkei Stock Average Temporarily Increases by 2,800 Yen Due to Trump's 'Temporary Suspension' of Tariffs - Nikkei Newspaper
https://www.nikkei.com/article/DGXZQOUB100AQ0Q5A410C2000000/
President Trump has also taken a tough stance against China, saying that the country has 'shown a lack of respect for the global market,' and has announced that additional tariffs will be increased to a total of 125%.
On April 9, the Chinese government announced that it would raise retaliatory tariffs on US products from 34% to 84%.
China hikes tariffs on US goods to 84%, as EU also retaliates against Trump tariffs - CBS News
https://www.cbsnews.com/news/china-tariffs-84-percent-retaliatory-tariff-us-products-trump-104/
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