US President Donald Trump has backed down on his so-called reciprocal tariffs, announcing a 90-day pause on the increased taxes worldwide.
Trump says his government will still impose a universal 10 percent levy, but China is the only exception.
Tariffs on Chinese goods have been increased to 125 percent, after Beijing retaliated with its own taxes on US products.
Stock markets across Asia have roared back to life after Trump’s pause on tariffs.
Japan’s Nikkei jumped more than eight percent shortly after opening in Tokyo on Thursday.
South Korea’s market was also sharply up, along with Hong Kong.
Stephen Olson is a visiting senior fellow at the ISEAS Yusof Ishak Institute in Singapore. He says the US actions could position China as a more reliable trading partner for other countries.
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