Markets Rally on Reports of Narrower Scope for Trump’s Reciprocal Tariffs

President Trump signals a more targeted approach to tariffs ahead of April 2, while consumer confidence and inflation concerns persist.

Global stocks and U.S. indices surged, led by tech stocks like Tesla, following reports that Trump's reciprocal tariffs may target only 15 countries with trade surpluses with the U.S.
President Trump hinted at potential exemptions or reductions for some countries but provided no specific details on which nations or sectors might be spared.
Consumer confidence in the U.S. dropped to an eight-month low in March, reflecting ongoing economic and political uncertainty related to tariffs.
The Federal Reserve signaled slower progress on inflation and indicated only one potential interest rate cut for 2025, citing tariff-related economic risks.
A new 25% tariff on countries purchasing Venezuelan oil was announced, adding a geopolitical dimension to the trade policy and potentially impacting global energy markets.