Stock markets around the world went up after Donald Trump said he might ‘significantly’ lower tariffs on China amid an ongoing trade war.
Trump’s recent comments were more relaxed compared to earlier tough talk from the White House, which had made investors nervous. Speaking to reporters in Washington, he said he planned to be “very nice” to China during trade talks. He also said that if a deal is reached, tariffs could be reduced on both sides—“substantially,” though not completely.
In Asia, markets responded positively: Japan’s Nikkei rose nearly 2 per cent, Hong Kong’s Hang Seng went up 2.4 per cent, and South Korea’s Kospi gained 1.6 per cent.
The market rally continued in Europe on Wednesday morning. The UK’s FTSE 100 went up by 1.6 per cent, Italy’s FTSE MIB rose 1.1 per cent, Germany’s Dax climbed 2.6 per cent, and France’s Cac gained 2.1 per cent.
In the US, stocks also opened strong. The Dow jumped over 800 points, and the Nasdaq Composite rose more than 3 per cent. Although the rally slowed later in the day, all major US markets still ended higher.
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