Trump Tariffs Paused For 90 Days For Some Countries: Dow Surges 2000 Points, Nasdaq Rips 8%

President Donald Trump announced 90-day temporary relief for several countries from his ‘Liberation Day’ tariffs, pushing the Dow Jones, S&P 500, and Nasdaq 100 indices higher by at least 5%.

In a post on his social media platform Truth Social, President Trump announced that 75 countries that had reached out to the U.S. government’s various agencies and departments until now will be granted 90-day relief from the reciprocal tariffs.

It’s unclear how much relief has been announced since Trump’s post only mentions “a substantially lowered Reciprocal Tariff” instead of the exact numbers.

President Trump also increased pressure on China after the Xi Jinping administration hiked tariffs to 84%. This was in response to Trump's hiking total tariffs on Chinese goods imported into the U.S. to 104%, effective Wednesday.

As such, the new tariff on Chinese imports is now 125%.

“Hopefully in the near future, China will realize that the days of ripping off the U.S.A., and other Countries, is no longer sustainable or acceptable,” Trump said in his post.

Commerce Secretary Howard Lutnick revealed in a post on the social media platform X that he sat down with Treasury Secretary Scott Bessent and President Trump while the announcement was being written down.

“The world is ready to work with President Trump to fix global trade, and China has chosen the opposite direction,” Lutnick said.

The announcement drove a sharp surge in U.S. equities. The Dow Jones index gained over 2,100 points, while the S&P 500 was up more than 7% at the time of writing.

The tech-heavy Nasdaq 100 index gained over 8%.

The SPDR S&P 500 ETF Trust (SPY), which tracks the S&P 500, was up 7% at the time of writing.

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Also See: EU To Join China, Canada Next Week With First Retaliation Measures Against Trump Tariffs: Two Key Goods To Be Left Out