Stock Markets Make Gains After Tariff Pause; Trump Signs Executive Order to Boost Shipbuilding | NTD Good Morning (Apr. 10)

U.S. stocks skyrocketed after President Trump announced he’s pausing his reciprocal tariffs on most countries, with a baseline of 10 percent still in effect; however, that excludes China, which will face increased tariffs of 125 percent. Trump’s announcement also led to a surge in the Asia-Pacific markets, with Japanese indexes gaining 8 to 9 percent, and TSMC’s stock price increasing by almost 100 points.

President Trump signed an executive order yesterday to boost the U.S. shipbuilding industry. It’s a response to China’s rapidly expanding navy, which surpassed the United States in 2020 as the largest naval force in the world. The new order directs the secretary of defense to look for ways to boost private and public investment in shipbuilding. Trump’s order also seeks to boost the maritime industry more broadly. In addition to building more ships, it will include a boost to U.S. Merchant Marine training and establish maritime prosperity zones.

The European Union announced it would put a hold on its counter-tariffs, after Trump’s decision to pause its tariffs on the EU. European Commission President Ursula von der Leyen said on X, “We want to give negotiations a chance.” The EU and the United States still need to reach an agreement. The EU was considering a list of American products to tax by up to 25 percent, including tobacco, steel, chicken, luxury yachts, and diamonds.