U.S. and Canada’s stocks markets soar following Trump pauses on some tariffs

Stock markets in Canada and the U.S. soared after U.S. President Donald Trump posted on social media that he is pausing some tariffs, except for China, which will face higher rates.

 

In the post, Trump announced both a pause and a lower 10 per cent “reciprocal” tariff.

 

He also raised the tariff rate on goods coming from China to 125 per cent, effective immediately.

The S&P/TSX composite index was up 864.19 points at 23,371.09 after the announcement.

 

In New York, the Dow Jones industrial average was up 2,106.39 points at 39,751.98.

 

The S&P 500 index was up 336.01 points at 5,318.78, while the Nasdaq composite was up 1,309.68 points at 16,577.59.

 

 

 

 

 

This article was first reported by The Canadian Press