India, April 9 -- Asian stock markets are trading strongly higher on Thursday, following the broadly positive cues from Wall Street overnight, with sharp gains across all markets in the region after US President Donald Trump announced a 90-day pause on new "reciprocal tariffs" on most countries to allow for negotiations. However, Trump excluded China from the pause. Asian Markets closed mostly lower on Wednesday.
White House press secretary Karoline Leavitt told reporters that tariffs would be brought down during the 90-day pause to a "universal 10 percent" level on most countries, including Canada.
However, the pause will not apply to China, as Trump announced he is raising the tariff on the country to 125 percent due to the "lack of res...