Trump tariffs: World breathes sigh of relief after White House reprieve; European Union pauses countermeasures

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President Donald Trump dramatically reversed course, dropping his country-specific tariffs down to a universal 10% rate for all trade partners except China. China’s tariff rate will jump to 125%, effective immediately, the White House says.

White House advisors claimed the flip flop was always the strategy, suggesting that the past week of massive tariffs that triggered huge market losses was all for show. Beijing has announced a reciprocal 84% tariff rate on U.S. goods, effective April 10. China issued new travel warnings for its citizens about visiting the United States. CNBC reports.

⚠️ EU pauses countermeasures following Trump's tariff reprieve: The European Union will pause its first countermeasures against U.S. tariffs after President Donald Trump temporarily lowered the hefty duties he had just imposed on dozens of countries, European Commission chief Ursula von der Leyen said on Thursday. Reuters reports.

📈 Autos, pharma, luxury and more: The global sectors soaring after Trump’s tariffs walkback: Stock markets soared on Thursday, after U.S. President Donald Trump’s jarring about-turn on most tariffs, with sectors paring multi-day losses. CNBC reports.

🛳️ Shipping giant Maersk, a bellwether for global trade, soars on Trump’s tariff pause: Shares of Danish shipping giant Maersk, a bellwether for global trade, posted substantial gains on Thursday morning, rallying after U.S. President Donald Trump’s 90-day pause on higher tariffs for some countries. CNBC reports.

🚗 BMW quarterly sales dragged down by China slump: BMW's first-quarter sales were dragged down by a 17.2% drop in China, where foreign premium carmakers have struggled to boost sales amid high competition from cheaper local rivals and a protracted property crisis dampening consumer confidence. Reuters reports.

📊 US steel stock tumbles as Trump says 'we don't want to see it go to Japan': United States Steel Corp shares are getting crushed in Wednesday’s after-hours session after President Donald Trump suggested he doesn’t want to see the company get acquired by Nippon Steel. Benzinga reports.

🛒 Chinese sellers on Amazon to hike prices or exit US as tariffs soar: Chinese companies that sell products on Amazon are preparing to hike prices for the U.S. or quit that market due to President Donald Trump's unprecedented tariff hikes, sellers and the head of China's largest e-commerce association said. Reuters reports.

(All pricing and percent gains are based on Early Pre-Market from 4:00 AM to 7:00 AM Eastern Time)
Benzinga reports.

1) $WHLR: Wheeler Real Estate
Total gain: +166.66%

2) $RSLS: Reshape Lifesciences
Total gain: +77.64%

3) $STSS: Sharps Technology
Total gain: +42.85%

4) $HYFM: Hydrofarm Holdings Group
Total gain: +32.14%

5) $HLP: Hongli Group
Total gain: +21.82%

*Estimate and Actual numbers represent Earnings Per Share in US Dollars

KMX: CarMax
4Q 2025
Before Market Open
Estimate: 0.660
Actual: N/A

CVAC: CureVac
4Q 2024
Before Market Open
Estimate: -0.090
Actual: N/A

NTIC: Northern Technologies
2Q 2025
Before Market Open
Estimate: 0.060
Actual: N/A

Time (ET) / Report / Period

8:30 AM - Initial jobless claims - April 5
8:30 AM - Consumer price index - March
8:30 AM - CPI year over year

“The most important thing to remember is that trading is a business. You have to approach it like a professional.”

- Alexander Elder

Sourced in: “Trading for a Living”, by Alexander Elder, published in 1993.