Stocks have surged this afternoon as the President announced a pause in some of the ‘reciprocal’ tariffs, causing a market that’s been under extreme pressure for the last week to explode higher.
The S&P 500 skyrocketed 9.1%, on pace for its biggest one-day gain in five years. The Dow Jones Industrial Average advanced 2,861 points, or 7.4%, also its biggest advance since 2020. The Nasdaq Composite jumped 11.7%, its largest one-day jump in decades.
“I have authorized a 90 day PAUSE, and a substantially lowered Reciprocal Tariff during this period, of 10%, also effective immediately,” he posted.
Treasury Secretary Scott Bessent also said that all countries except China would go back to the 10% baseline tariff rate as negotiations take place. The pause would not apply to sector tariffs.
Jeff Newman JD MBA, represents whistleblowers in major tariff fraud casesconcerning imported Chinese goods. His firm also represents whistleblowers in Medicare and Medicaid fraud cases under the False Claims Act (Qui Tam), and SEC, IRS and FINCEN whistleblower programs. He can be reached at Jeff@JeffNewmanLaw.com or at 617-823-3217
