While a universal “reciprocal tariff reduction to 10%” remains in place, the move is still seen as a much more favourable outcome than initially feared, says Yeap Jun Rong, market strategist at trading solutions provider IG. “[It helps] to push back against earlier concerns that securing such a concession would be a far more arduous process.”
In a single night, market sentiments swung dramatically — from fear, uncertainty and doubt to relief and euphoria.
This sharp shift was triggered by yet another policy reversal from US President Donald Trump, who unexpectedly announced a 90-day pause on the implementation of higher tariffs for certain countries.
