In an astonishing turn of events, U.S. President Donald Trump on Wednesday afternoon ordered a 90-day halt to fresh tariffs on dozens of countries — just 13 hours after they went into effect.
The news was welcomed by Japan and its markets, with the 225-issue Nikkei stock average rising 9.13%, or 2,894.97 points. It was the second-biggest point rise in history and the seventh-biggest percentage increase. Toyota was up 7.61%, Sony 13.52% and Mitsubishi UFJ Financial 9.56%.
"We take the recent announcement by the U.S. government in a positive light,” Chief Cabinet Secretary Yoshimasa Hayashi said.
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