President Trump Suspends Tariffs, Catalyzing Market Surge
President Donald Trump has declared a 90-day halt to his recently enacted reciprocal tariffs, igniting a rapid upswing in the stock market — which had suffered considerable losses following the initial tariff declaration just the previous week.
Key technology firms experienced immediate increases after the announcement. Shares of Apple, Sony, and Microsoft skyrocketed, with Tesla spearheading the surge — ascending 22.69 percent at the time of this report. Intel advanced by more than 17 percent, Nvidia climbed over 15 percent, and other tech titans such as Meta, Amazon, and Alphabet also saw significant increases.
Trump announced the development on his social media platform, Truth Social, asserting: “I have authorized a 90 day PAUSE, and a substantially lowered Reciprocal Tariff during this period, of 10%, also effective immediately.”
Nevertheless, the tariff pause is applicable only to nations currently in talks with the U.S. government. Tariffs on imports from countries like China — which has responded with its own tariffs — remain enforced. Indeed, Trump revealed a new 125 percent tariff on Chinese products. A distinct global 10 percent tariff, introduced over the weekend, will also remain in effect.
The sudden and erratic implementation of the tariffs has resulted in notable market fluctuations. Nonetheless, the temporary respite for countries such as South Korea and Vietnam was sufficient to boost Apple’s stock dramatically. The company had just faced its worst four-day period on the market since 2000, primarily due to the ramifications of the tariffs.
Crypto Markets Surge Alongside Equities
The cryptocurrency sector also reacted favorably to the tariff suspension. Bitcoin surged back to over $82,000 after lingering in the $70,000s for several days. Ethereum gained 8 percent in response to the announcement.
Last week’s tariffs had created turbulence in the global economy, with some analysts wary of a potential repeat of the 1987 stock market crash. Over the weekend, speculation circulated on Elon Musk’s platform X that Trump might suspend the tariffs — a rumor that helped avert a possible “Black Monday.” However, the White House later verified that those speculations were baseless.
Despite the temporary reprieve, the ongoing U.S.–China trade dispute persists. While Wall Street and Silicon Valley embraced the pause, the long-term effects on the economy remain unclear.
For continuous updates on how Trump’s tariffs could impact consumers — from postponed Nintendo Switch 2 preorders to panic buying of the iPhone 16 — keep an eye on Mashable’s latest news and analyses.