The Trump administration’s abrupt suspension of “reciprocal” tariffs for 90 days sparked a market surge in the U.S. and Asia, recovering much of last week’s losses. China alone faces a crippling 125 percent tariff. At the same time, other nations, including Vietnam, now a hub for Chinese manufacturers, see a 10 percent levy.
U.S. and Asian Indexes Soar
Investors welcomed the White House’s delay, driving the Dow up 8 percent, the S&P 500 nearly 10 percent, and the Nasdaq 12 percent. The Nikkei climbed 8 percent in Asia, Singapore’s STI rose 5 percent, and even China’s Shanghai and Hang Seng indexes ticked despite the tariff strain.
Cruise Stocks Lead the Charge
Cruise stocks soared, with Carnival jumping 17 percent, Royal Caribbean 16 percent, and Norwegian 18 percent, nearly offsetting losses since April 2, when the tariff plan debuted. Buoyed by U.S. growth forecasts, these gains reflect renewed investor confidence. Oil price rebounds aided offshore stocks, with Transocean and Tidewater each up 10 percent, clawing back from steep prior drops.
Mixed Results in Shipping Sectors
Tanker stocks posted smaller gains in CMB. Tech rose 6 percent, Teekay 5 percent, and Scorpio 3 percent, while liner stocks like Yang Ming surged nearly 10 percent. Chinese operator COSCO, however, slipped 1 percent amid ongoing tariffs and looming port fees.
Negotiation Window Opens
The 90-day suspension, led by Treasury Secretary Scott Bessent, opens a negotiation window for nations. This pause has fueled optimism, lifting markets across sectors despite an uncertain trade landscape ahead.
