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Asian markets surged following President Trump's decision to temporarily suspend high tariffs on several countries. Taiwan, Japan, and South Korea, initially facing 24-32% tariffs, saw significant stock market gains exceeding 5%. While spared the higher rates for 90 days, these nations will still face a 10% tariff. The reprieve comes alongside existing 25% tariffs on certain goods like cars, impacting major exporters like Japan and South Korea.

Prepared by Christopher Adams and reviewed by editorial team.