Stocks went up on Wednesday after Trump said he’d lower the tariff on China. The Dow Jones was up 1.47% at 39,774 on April 23, but it fell from above 40,000. The S&P 500 was at 5,400.74, and the Nasdaq was at 16,803.75. Trump also said he’d be nice to China and wouldn’t tough on Xi Jinping.
Trump’s words made traders feel better. He said the high tariffs on China would go down “substantially,” but not to zero. He also said he won’t fire Federal Reserve Chair Jerome Powell. This made the dollar stronger, reaching 99.66 after a long time. Trump’s trying to calm the markets and said trade talks are going well.
However, Trump isn’t getting rid of the 10% tariff on all countries. The White House still thinks other countries are using sneaky ways to trade with the U.S. Not sure if all this really matters, but who knows.
