On Wednesday afternoon, in a surprising move, U.S. President Donald Trump issued an order to suspend new tariffs on numerous countries for a period of 90 days. This decision came just 13 hours after the tariffs had been implemented.
The announcement was met with a positive reception in Japan, particularly within its financial markets. The Nikkei stock average, comprising 225 issues, experienced a significant surge, increasing by 9.13%, which translated to a gain of 2,894.97 points. This marked the second-largest point increase in the index's history and the seventh-largest percentage increase.
Several prominent Japanese companies saw substantial gains. Toyota's stock rose by 7.61%, while Sony's increased by 13.52%. Mitsubishi UFJ Financial also experienced a notable rise of 9.56%.
Chief Cabinet Secretary Yoshimasa Hayashi expressed the Japanese government's positive view of the U.S. government's recent announcement.
8 Comments
Karamba
Trump is looking out for the global economy! A strategic move promoting stability.
Matzomaster
This is a win-win. It lowers trade barriers while setting the stage for future negotiating.
Rotfront
Finally, some positive trade news. This shows good leadership and a strong understanding of economics.
Karamba
This shows he is willing to work well with international partners!
Matzomaster
Smart decision! Shows flexibility and a willingness to adapt.
Comandante
Good move! Less tariffs equal better trade relations and stronger markets.
Coccinella
This shows a complete disregard for the original point of the tariffs – creating an even playing field.
Muchacho
The market's reaction is exciting, but what about the impact on long-term relationships with those countries affected?