In stunning U-turn, Trump walks back some tariffs, triggering historic market rally

Quick Summary:

WASHINGTON: In a stunning reversal, U.S.

President Donald Trump said on Wednesday he would temporarily lower the hefty duties he had just imposed on dozens of countries while further ramping up pressure on China, sending U.S.stocks rocketing higher.

The 90-day freeze also does not apply to duties paid by Canada and Mexico, because their goods are still subject to 25% fentanyl-related tariffs if they do not comply with the U.S.-Mexico-Canada trade agreement's rules of origin.

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Category: EconomyBusiness

Markets: MalaysiaCanadaChinaJapanSouth KoreaMexicoUnited StatesVietnam

Topics: Trump Tariff /Business/Business News Reversal Markets Trade NYSE Stock

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-04-10 @ 07:36:00 (2 weeks ago)

News Timezone: GMT +8:00

News Source URL: thestar.com.my

Language: English

Article Length: 963 words

Reading Time: 6 minutes read

Sentences: 48 lines

Sentence Length: 21 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © The Star

News ID: 27764684

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About The Star

Main Topics: EconomyBusiness

Official Website: thestar.com.my

Update Frequency: 5 posts per day

Year Established: 1971

Headquarters: Malaysia

News Last Updated: 9 hours ago

Coverage Areas: Malaysia

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Publisher ID: #22

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