New York Stock Market Soars on 90-Day Mutual Tariff Suspension... Nasdaq Up 9%

U.S. President Donald Trump announced a 90-day delay in the implementation of country-specific reciprocal tariffs for all trading partners except China, causing the New York stock market to surge on the 9th (local time).

Reuters Yonhap News

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At 1:56 p.m. on the same day in the New York stock market, the Dow Jones Industrial Average (Dow Index), which focuses on blue-chip stocks, was trading at 39,832.82, up 2,187.23 points (5.81%) from the previous trading day. The S&P 500 Index, centered on large-cap stocks, surged 340.47 points (6.83%) to 5,323.24, and the Nasdaq Index, focused on technology stocks, soared 1,332.82 points (8.73%) to 16,600.74.

President Trump announced that reciprocal tariffs for countries other than China would be postponed for 90 days. Since the 5th, the U.S. has imposed a universal 10% tariff on all countries, and from the 9th, country-specific reciprocal tariffs were implemented considering each country's trade barriers. According to President Trump's decision on this day, the U.S. will apply only the universal 10% tariff to countries that have expressed willingness to negotiate instead of retaliatory measures, and the punitive additional tariffs imposed on a country-by-country basis will be delayed for 90 days.

In the case of South Korea, a 25% reciprocal tariff was imposed, but from this point, only the 10% universal tariff will apply, and the remaining 15% will be postponed for three months.

On the other hand, the U.S. immediately raised the reciprocal tariff rate on China to 125%. This is the second retaliatory measure in response to China's counter-tariffs.

President Trump said, "Due to China's lack of respect shown to the global market, the tariffs imposed by the U.S. on China will be immediately increased to 125%," adding, "Someday, hopefully in the near future, China will realize that the era of exploiting the U.S. and other countries is no longer sustainable or acceptable."

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