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Asian markets have reacted positively after Donald Trump paused his so-called “reciprocal” tariffs on most of America’s trading partners for 90 days, despite the US president increasing those on China to 125%.

There have been fears of a global recession and stock markets around the world had plummeted after Mr Trump announced his “Liberation Day” tariffs on Wednesday 2 April.

However, Japan’s Nikkei share average was up 8.2% by 3.50am BST, while the broader Topix had risen 7.5%.

Similarly, the S&P 500 stock index had jumped 9.5% and global markets bounced back following Mr Trump’s announcement on Wednesday that the increased tariffs on nearly all trading partners would now be paused.

Tariffs latest: Trump gives reasons for pausing some tariffs

In a post on his Truth Social platform, Mr Trump said the “90-day pause” was for the “more than 75 countries” who had not retaliated against his tariffs “in any way”.

He added that during this period they would still have to pay a “substantially lowered” 10% tariff, which is “effective immediately”.

It is lower than the 20% tariff that Mr Trump had set for goods from the European Union, 24% on imports from Japan and 25% on products from South Korea.

The UK was already going to face a blanket 10% tariff under the new system.

Mr Trump said the increased 125% tariff on imported goods from China was “effective immediately”.

He added: “At some point, hopefully in the near future, China will realise that the days of ripping off the USA, and other countries, is no longer sustainable or acceptable.”

What’s in Trump’s tariff pause?

Here’s what Donald Trump’s tariff pause entails:

‘Reciprocal’ tariffs on hold

• Higher tariffs that took effect today on 57 trading partners will be paused for 90 days

• These include the EU, Japan and South Korea, all of which will face a baseline 10% duty instead

• Countries that already had a 10% levy imposed since last week – such as the UK – aren’t affected by the pause

China tariffs increased

• Trump imposed a higher 125% tariff on China

• That’s in addition to levies he imposed during his first term

• China had hit the US with 84% tariff earlier today, following tit-for-tat escalations

No change for Canada or Mexico

• Canadian and Mexican goods will remain subject to 25% fentanyl-related tariffs if they don’t comply with the US-Mexico-Canada trade agreement’s rules of origin

• Compliant goods are exempt

Car and metal tariffs remain

• Trump’s pause doesn’t apply to the 25% tariffs he levied on steel and aluminium in March and on cars (autos) on 3 April

• This 25% tariff on car parts does not come into effect until 3 May

Sectors at risk

• Copper, lumber, semiconductors, pharmaceuticals and critical minerals are expected to be subject to separate tariffs, in the same way autos are

Hours after Mr Trump announced the pause on tariffs for most countries, a White House official clarified that this did not apply to the 25% duties imposed on some US imports from Mexico and Canada.

The tariffs were first announced in February and Mexico and Canada were not included in the “Liberation Day” announcements.

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Donald Trump says China ‘wants to make a deal’

Hours before the 125% tariff on China was revealed, Beijing said it was increasing tariffs on US goods by 50%.

It meant tariffs of 84% would be enforced on US goods – up from the 34% China had previously planned.

Donald Trump speaks in the Oval Office. Pic: Reuters
Image:
Mr Trump spoke to reporters in the Oval Office. Pic: Reuters

China ‘want to make a deal’

Asked why he posted “BE COOL” on Truth Social hours before announcing his tariff pause, Mr Trump told reporters at the White House: “I thought that people were jumping a little bit out of line.”

“They were getting yippy, you know, were getting a little bit yippy, a little bit afraid,” he added.

Mr Trump continued: “China wants to make a deal, they just don’t know how to go about it.

“[They’re] quite the proud people, and President Xi is a proud man. I know him very well, and they don’t know quite how to go about it, but they’ll figure it out.

“They’re in the process of figuring out, but they want to make a deal.”

Read more:
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White House press secretary Karoline Leavitt said the walk back was part of a grand negotiating strategy by Mr Trump.

“President Trump created maximum negotiating leverage for himself,” she said, adding that the news media “clearly failed to see what President Trump is doing here”.

US Treasury Secretary Scott Bessent also insisted Mr Trump had strengthened his hand through his tariffs.

“President Trump created maximum negotiating leverage for himself,” he said.

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Mr Bessent said Mr Trump decided to raise tariffs on China because Beijing hadn’t reached out to the US and instead increased its own levies on US goods.

Downing Street said that the UK will “coolly and calmly” continue its negotiations with the US.

A Number 10 spokeswoman said: “A trade war is in nobody’s interests. We don’t want any tariffs at all, so for jobs and livelihoods across the UK, we will coolly and calmly continue to negotiate in Britain’s interests.”

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Vaccine reminder as mpox strain spreads in Europe

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Vaccine reminder as mpox strain spreads in Europe

Health officials are calling for people to ensure they are vaccinated against mpox, as there are indications the ‘clade Ib’ strain has spread locally in some European nations.

The UK Health Security Agency (UKHSA) says it is aware of small numbers of cases of this strain in Portugal, Spain, Italy and the Netherlands, as well as the US.

It says most of the new cases identified have been in gay, bisexual and other men who have sex with men, a population in which clade Ib mpox transmission has not previously been observed.

There are 16 clade Ib cases in the UK to date – all in England and unrelated to transmission within GBMSM (Gay, bisexual and other men-who-have-sex-with-men) community, a spokesperson for the agency said.

“The ways in which we are seeing mpox continue to spread globally is a reminder to come forward for the vaccine, if you are eligible,” said Dr Katy Sinka, head of sexually transmitted infections at UKHSA.

The UK has a routine mpox vaccination programme in place for eligible groups, including those who:

  • have multiple sexual partners
  • have group sex
  • visit sex-on-premises venues

Although there are no studies on vaccine effectiveness against clade Ib mpox, studies show that the vaccine is around 75 to 80% effective in protecting people against clade II.

The UKHSA said that since the last technical assessment on 19 December last year, the “probability of importation into the UK has increased from medium to high”.

The agency said, however, that the risk of onwards transmission in the UK is “likely to be controlled to some degree by the existing GBMSM vaccination programme and remains low to medium at present”.

Mpox is generally a mild infection, and clade Ib and la strains are no longer classified as a high-consequence infectious disease, but it can be severe in some cases, the UKHSA said.

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Zelenskyy: Ukraine will work on ceasefire plan within next 10 days

Charities have also called for people to get vaccinated prior to travelling to autumn Winter Pride events in Europe.

Common mpox symptoms include a skin rash or pus-filled lesions, which can last two to four weeks.

The infection can also cause fever, headaches, muscle aches, back pain, low energy and swollen lymph nodes.

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Ukraine will work on ceasefire plan within next 10 days, Volodymyr Zelenskyy says

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Ukraine will work on ceasefire plan within next 10 days, Volodymyr Zelenskyy says

Ukraine and its allies have agreed to work on a ceasefire plan in the next 10 days, Volodymyr Zelenskyy has said.

The Ukrainian president made the remarks after a proposal from US President Donald Trump to stop the war at its current frontlines.

“Some quick points – like a plan for a ceasefire. We decided we will work on it in the next week or 10 days,” Mr Zelenskyy told Axios.

He said Ukraine – partly in an attempt to pressure Russia into talks – was asking the US administration not only for Tomahawk missiles but for “similar things” that do not require lengthy training before Ukrainian military personnel can use them.

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Moment Russian soldiers surrender in Ukraine war

On the ground, Ukraine has moved to strengthen its positions in the strategic eastern city of Pokrovsk, as groups of Russian troops infiltrated the city, Kyiv’s military said.

Ukrainian officials said Russian troops have renewed their attempts to capture the key transport hub in the Donetsk region.

“The occupiers, who have entered the city, are not trying to take hold, but intend to advance further north,” the 7th Rapid Response Unit of Ukraine’s airborne troops said in a Facebook post.

“In doing so, the enemy wants to disperse our defence forces and block land logistics corridors.”

Mr Zelenskyy said Russia has concentrated its main strike force against Pokrovsk.

“There is fierce fighting in the city and on the approaches to the city… Logistics are difficult. But we must continue to destroy the occupiers,” he said.

Citing Ukrainian intelligence in his interview with Axios, Mr Zelenskyy said Russian President Vladimir Putin had privately claimed Moscow would capture the entire Donbas – comprising the regions of Donetsk and Luhansk – by 15 October.

Read more from Sky News:
Sanctions alone won’t force Putin to end Ukraine war
Trump ‘100% open’ to meeting Kim Jong Un

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Russia launches huge strike on Ukraine

Russia tests ‘Skyfall’ nuclear missile’

It comes after Russia tested a new nuclear-powered and nuclear-capable cruise missile, which Mr Putin said could dodge existing defences.

Development of the Burevestnik missile, codenamed Skyfall by NATO, was first revealed by Mr Putin in 2018, when he claimed it would have an unlimited range, allowing it to circle the globe undetected by missile defence systems.

In 2019, five nuclear engineers and two service members were killed in an explosion when Russian experts reportedly tried to recover a Burevestnik prototype that had crashed into the White Sea during tests.

‘Get the war ended,’ Trump tells Putin

Mr Trump, speaking during an official trip from Kuala Lumpur to Tokyo, said Mr Putin’s talk about missiles was not “appropriate”.

“You’ve got to get the war ended. A war that should have taken one week is now in its soon fourth year,” he said. “That’s what you ought to do, instead of testing missiles.”

A Kremlin spokesperson claimed the missile reflects Moscow’s determination to look out for its security interests.

“Russia is consistently working to ensure its own security,” Dmitry Peskov said when asked if the missile announcement was a response to tough new US sanctions imposed on Russia and a signal to the West.

“Ensuring security is a vital issue for Russia, especially against the backdrop of the militaristic sentiment that we are currently hearing, primarily from the Europeans,” he added.

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Ten on trial over ‘malicious’ online comments claiming Brigitte Macron is a man

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Ten on trial over 'malicious' online comments claiming Brigitte Macron is a man

Ten people accused of cyberbullying Brigitte Macron are going on trial in Paris after allegedly making “malicious” comments claiming the French first lady is a man.

Emmanuel Macron‘s wife has long been the subject of conspiracy theories saying she was born a man named Jean-Michel Trogneux (her brother’s name), and took the name Brigitte as a transgender woman.

Eight men and two women are accused of making posts repeating the claims, as well as others about her sexuality and mentioning the 24-year age gap to her husband as “paedophilia”.

The accused are between 41 and 60 and include a teacher, computer scientist, an elected official, and a woman who presents herself as a medium and advertising executive.

The trial, due to begin Monday, is expected to last two days and comes after the Macrons filed a defamation case in the US this summer over conservative influencer Candace Owens repeating the claims.

The French president has claimed that taking legal action against Ms Owens was about “defending his honour”,

Mrs Macron and her brother won also another French defamation case last year against two women who were initially ordered to pay damages and a fine.

More on Emmanuel Macron

However, the decision was overturned and Mrs Macron and her brother have appealed to France’s highest court.

The Macrons met at a secondary school where Brigitte was teaching when Emmanuel was 15. They married in 2007 and Mr Macron became president in 2017.

Earlier this year, the first lady was caught on camera pushing her husband in the face as he prepared to get off a plane.

Mr Macron later said it was a case of “simply joking with my wife as we often do”.

Read more from Sky News:
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Hurricane set to slam Jamaica with 140mph winds and floods

The trial also comes as France deals with an ongoing political crisis that saw its prime minister resign only to be reappointed days later, as well as continuing attention over the audacious robbery of jewels from the Louvre.

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