Despite the suspension, Trump said a universal customs rate of 10 per cent would still apply during the three-month break

By Titilope Adako

Tokyo’s stock market surged on Thursday after U.S. President Donald Trump announced a temporary suspension of newly imposed tariffs.

The benchmark Nikkei 225 index climbed by 2,664.62 points, or 8.4 per cent, reaching 34,378.65 points barely an hour into morning trading.

The sharp rise followed Trump’s declaration on Wednesday of a 90-day pause on some tariffs that had just been enforced.

Despite the suspension, Trump said a universal customs rate of 10 per cent would still apply during the three-month break.

Meanwhile, tariffs on goods imported from China were raised to 125 per cent.

The development also triggered a strong recovery on the U.S. stock market on Wednesday.

Join us on our Whatssap Platform @KOIKIMEDIA NEWS YOUR PAGE

KoikiMedia Bringing the World 🌍 Closer to Your Doorstep