Trump's Turnaround on Tariffs

12:00 10 April 2025

Join research director Kathleen Brooks today at 12:30 BST as she gives you the latest details about market moves now that some US tariffs have been paused. Find out if the market rally will last.

Join Kathleen Brooks at 12:30 BST as she gives you the latest details about market moves now that some US tariffs have been paused.

The trade war between China and the US is still in full swing, and tariff levels between the two largest global economies have never been higher. This is weighing on the oil price, which is lower once again on Thursday, and Brent crude is down 2.6% to $63.70 per barrel. Reports suggest that China could announce stimulus measures to boost its economy, however, they have not been forthcoming so far. Chinese and Hong Kong stocks also rallied today, although by less than European and US peers. Chinese stocks will benefit from the rest of the world avoiding recession if reciprocal tariffs from the US are moderated, which is why they are joining in the global equity market rally on Thursday.

Volatility has been assuaged by the pause in tariffs, however, the Vix remains well above the average of 17 for the past 12 months, and it has started to turn higher as we move through this morning. This is worth watching. If the pause in tariffs does not placate markets, then what will?

Find out more at our live market analysis. 

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