Brief by Shorts91 Newsdesk / 12:09pm on 10 Apr 2025,Thursday India
The European Union has paused its planned retaliatory tariffs against the US after President Donald Trump delayed a global tariff hike for 90 days. Trump’s new 10% universal tariff remains, along with a 25% rate on aluminium, steel, and automobiles. However, China faces a 125% tariff, worsening the US-China trade war. In response, Beijing imposed 84% duties on US imports. The pause in escalation brought relief to financial markets in Asia and Europe, with gains reported across stock exchanges. A UK-based short seller told the BBC he was “happy” with the profits earned during the recent market turbulence. (PC: BBC)
