China Implements New Tariffs on U.S. Products as Trump Suspends Actions for Other Nations – Live Business Updates

# Trump Tariffs: The Asian Market Rollercoaster

Let’s dive into the recent rollercoaster that the global markets have gone through, thanks to some interesting twists and turns from the Trump administration.

## A Tumultuous Week in Global Markets

Hello and welcome! We’ve been through quite the week for the global markets. US President Trump’s unexpected tariff policy sure got things moving. Take a look at what happened:

– Global markets surged after Trump’s 90-day tariff pause.
– The S&P 500 jumped 5.6%, and the Nasdaq leaped over 8%.
– Trump’s [Truth Social](https://www.theguardian.com/business/live/2025/apr/09/stock-share-markets-us-china-trade-trump-tariffs-business-news-live-updates?page=with%3Ablock-67f6aebd8f08ecc65185a181#block-67f6aebd8f08ecc65185a181) announcement shows a temporary retreat from tariffs, with a 10% rate for most nations.
– But China? They weren’t so lucky. New tariffs on US goods soared to 84%.

## Trump Tariff Reversal and China’s Response

[Trump’s pivot](https://www.theguardian.com/us-news/trump-tariffs) was unexpected, especially after some tough talk earlier. Things cooled down with a 90-day pause. Except for China, of course. Their tariffs jumped to 125%. Talk about high stakes!

### China’s Not Backing Down

An official from China’s ministry of commerce made it clear they wouldn’t sit idly by. They stated, “No one wins in a trade war.” Withered yet determined, [China’s commerce minister](https://www.theguardian.com/world/2025/apr/09/china-unlikely-to-blink-first-as-trumps-trade-war-enters-uncharted-new-territory) stood firm, ready for the challenge.

## The Asian Market Rebounds

Despite the tension with the US, Asia’s stock markets saw a notable turnaround:

– **Japan’s Nikkei 225** climbed 7.2%.
– **South Korea’s Kospi** increased over 5%.
– **Australia’s ASX 200** jumped more than 6%.

On the home front, Wall Street saw a massive day with the **Dow Index** nearly 8% up and the **Nasdaq** having its best day in 24 years!

### Taiwan Joins In

Following the trend, [Taiwan’s stock surge](https://www.theguardian.com/world/china) marks a 9.2% increase. Big names like TSMC and Foxconn saw significant boosts. Trump’s tariff tactics certainly created some waves.

## A Call for Trade Unity Rebuffed

Amid the turmoil, China’s call for partnership was met with a snub. Beijing reached out to Australia, urging alliance against US tariffs.

### Australia’s No-Go

[Australian Defense Minister](https://www.theguardian.com/business/live/2025/apr/10/trump-tariffs-us-china-eu-trade-war-markets-latest-news-updates) Richard Marles quickly rebuked the proposal. “We won’t be holding China’s hand,” he stated. Instead of escalating, Australia’s eye is on diversification.

## And Across the Sea…

### Europe Steps Into the Fray

The EU announced its first counter with 25% tariffs on US goods. Meanwhile, the WTO chief warns that this trade war could chop US-China trade in half, dragging the global economy with it. Not the most promising forecast!

## Wrapping It Up

Here we are in a see-saw of tariffs, retaliation, and patience. While the Trump administration backtracks, only time will tell if he’s outsmarted himself or if it was a strategic masterstroke.

For continuous updates, [stay tuned](https://www.theguardian.com/business/live/2025/apr/10/trump-tariffs-us-china-eu-trade-war-markets-latest-news-updates) on this unfolding global market story.

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