Asian Markets Surge as Trump Pauses Tariffs; Indian Markets Closed for Mahavir Jayanti

New Delhi [India], April 10 (ANI): Asian stock markets experienced an upsurge on Thursday following US President Donald Trump’s announcement of a temporary suspension of tariffs for 75 nations, such as India, lasting 90 days. This move provided some respite to international investors who were grappling with escalating trade disputes.

The Nikkei 225 in Japan surged past an 8.34 percent increase, whereas Taiwan’s weighted index advanced by more than 9 percent when this report was published. Meanwhile, South Korea’s KOSPI index experienced a sharp rise, jumping above 5 percent.

The Hang Seng Index in Hong Kong rose by approximately 4 percent. Nonetheless, India’s stock markets stayed shut on Thursday as they observed Shri Mahavir Jayanti, which is a public holiday.

Even though certain nations experienced brief respite, tensions in the trade conflict between the United States and China kept intensifying. On Wednesday (according to local time zones), President Trump declared an instant increase in duties on Chinese products to 125 percent. This action was prompted by China’s decision to boost its levies on American merchandise from 34 percent to 84 percent, effective as of April 10.

Trump stated that he would decrease tariffs for the 75 nations presently involved in trade discussions with the U.S., providing them a 90-day window along with reduced reciprocal tax rates. India falls into this category of countries.

“In light of China’s disregard for global markets, I have decided to increase tariffs on Chinese goods imported into the United States to 125%, effective right away. Ideally, this change should happen soon, but at some point, China needs to understand that exploiting both the U.S. and other nations is no longer viable or tolerable,” stated Trump on Truth Social.

In contrast, since over 75 countries have reached out to representatives from the United States—such as those from the Department of Commerce, the Treasury Department, and the Office of the United States Trade Representative—to discuss solutions related to trade issues like barriers, tariffs, currency manipulation, and non-monetary tariffs, without responding with any countermeasures despite my firm recommendation, I have decided to institute a 90-day moratorium along with significantly reduced reciprocal tariffs set at 10%. This will take effect right away,” he concluded. (ANI)