US stocks soar as Donald Trump backs down in global trade war

Donald Trump was astonished by global investors on Wednesday, as he announced a 90 -day stopping in an additional tariff for countries that were ready to negotiate with the United States, as he sent the increasing shares with the president’s retreat from a full trade war.

The shares of Wall Street rose immediately after Trump’s announcement, as S&P 500 Blue Chip closed 9.5 percent and the Nasdaq boat increased by more than 12 percent. This has been the best day for the S&P 500 since 2008 and the strongest on the Nasdaq Stock Exchange since 2001.

The massive gathering in Wall Street added about $ 4.3 trillion to the market value of the S&P 500, according to Financial Times according to FactSet data. The gains have helped in contrast to the severe losses that have been published for the United States since Trump announced his wide definitions a week ago.

However, Trump has also identified China for more customs tariffs, which increased his additional fees in the second largest economy in the world to 125 percent, depths of facing trade with the Asian nation.

“Based on the fact that more than 75 countries called … to negotiate a solution … and that these countries were not, based on my strong proposal, in any way, or their shape against the United States, he authorized a temporary stop for 90 days, as Trump said in a social state in fact.

Trump added that China showed “disrespect” through revenge on the American definitions. “I am raising the tariff that the United States of America followed to China to 125 %, and effectively.”

The amazing rise from the American leader came a week after the turmoil in global markets, as the trillion dollars in stock prices decreased around the world, a sharp operation in American bonds, and the collapse of oil prices to the last time during the Korona virus.

“This is Trump’s surrender to the markets,” said Andy Brender at Natalliance Securities. “He saved the face by maintaining definitions on China.”

Trade Minister Howard Lootnick said that “the world is ready” to work with Trump to “reform global trade”, but he rejected China as “chose the opposite direction”, as the markets jumped in response to the announcement of the US President on Wednesday.

The Minister of Commerce added to X that Treasury Secretary Scott Bessin “sat with the president while he wrote one of the most unusual truth of his presidency.”

Later on Wednesday, Trump looked acknowledging some fear in the markets raised by his trade war.

“Well, I believed that people were jumping a little outside the line. They were getting Yipi, as you know, they were getting. … they were a little afraid,” he told reporters.

He said that the market gathering on Wednesday after Trump retreated from many customs tariffs that made it “the largest day in financial history.”

Wall Street Banks has warned that the drawings will send the American economy to recession while enhancing inflation and unemployment.

Before the announcement of Trump’s shock on Wednesday, Goldman Sachs issued a report predicting stagnation in the American economy caused by the president’s trade war. After a little more than two hours, the bank canceled its prediction.

The companies that were beaten in recent days made huge gains on Wednesday after Trump climbed. Apple, Nvidia, Microsoft, Amazon, Meta and Tesla all jumped at least 10 percent after Trump’s announcement.

“To the extent that the customs tariff is not in effect, this is a good thing from an economic perspective. To the extent that the trade war between the United States and China only becomes, which relieves pressure on other countries and the global economy,” Eric Winozard said in the alliance.

Climbdown at some point is expected to be multiple parallel trade negotiations between the United States and its most important trading partners in the coming weeks to try to solve trade tensions.

Pesin announced on Tuesday that he would lead talks with Japan, along with the best Trump trade negotiator, Jamieson Greer, in an attempt to conclude a deal that could see definitions.

The move came days after the mixed messages from Trump administration officials about the accuracy of the customs tariff and whether the United States is open to talks with its commercial partners who can see it.

Jarir was submitting a certificate in front of a committee, methods of actors and their means when Trump announced his suspension.

“Wtf, who is responsible?” Stephen Horford, a democratic legislator of Nevada, shouted at Jarir moments after Trump announced his suspension.

Horford Jarir asked if he realized that the president had stopped tariffs. Jarir replied that he was aware that the proposal was “under discussion.”

But even as Trump stops his plans to know the highly high tariff rates in many countries except China, he still maintains a 10 percent imposition of a blanket on most imports from all over the world that came into effect on April 5.

Additional reports by Steve Chavez in Washington