Trump stuns with tariff backtrack but punishes China

Trump stuns with tariff backtrack but punishes China
(Image: Getty)
AFP
By Danny Kemp with Sam Davies in BeijingUS President Donald Trump abruptly paused tariffs on most countries Wednesday after admitting they made the markets nervous but doubled down on a brutal trade war with superpower rival China.Wall Street stocks rocketed to close solidly higher Wednesday, with dramatic advances on all three major indexes. The Dow Jones Industrial Average surged 7.9% to 40,608.45, the broad-based S&P 500 Index rallied 9.5% to 5,456.90, and the tech-focused Nasdaq Composite Index jumped more than 12.2% to 17,124.97.&...

More Markets

Tourism Holdings and inflation updates drive NZX up
Markets Market close

Tourism Holdings and inflation updates drive NZX up

Tourism Holdings could be one of the most directly impacted shares of the US tariffs.

Tom Raynel 17 Apr 2025
Heartland Bank accountant fined over insider trading
Markets

Heartland Bank accountant fined over insider trading

A former Heartland Bank accountant has been sentenced to six months’ home detention and ordered to pay a fine after pleading guilty on three charges relating to insider trading.Kevin Young, a former treasury accountant with Heartland Bank, purchased Heartland Group Holdings Limit...

Staff reporters 17 Apr 2025
Potential Mainland buyers may soon tap regulators
Primary Sector

Potential Mainland buyers may soon tap regulators

Fonterra's divestment process is gaining traction.

Riley Kennedy 17 Apr 2025
Asian markets lift on US/Japan trade talks
Markets

Asian markets lift on US/Japan trade talks

Shares in Tokyo rose along with Hong Kong and others.

AFP 17 Apr 2025