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4d ago

Trump Signals Major Policy Reversals, Driving Global Market Rebound

The president announced plans to reduce tariffs on China and affirmed the Federal Reserve's independence, easing investor concerns.

Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., April 22, 2025. REUTERS/Brendan McDermid/File Photo
A worker attaches a part to a Mercedes-Maybach car on a production line of "Factory 56", one of the world's most modern electric and conventional car assembly halls of German carmaker Mercedes-Benz, in Sindelfingen near Stuttgart, Germany, March 4, 2024. REUTERS/Wolfgang Rattay/File Photo/File Photo
Reserve Bank of India (RBI) logo is seen inside its headquarters in Mumbai, India, April 6, 2023. REUTERS/Francis Mascarenhas//File Photo/File Photo
U.S. President Donald Trump looks on as Jerome Powell, his nominee to become chairman of the U.S. Federal Reserve, speaks at the White House in Washington, U.S., November 2, 2017.

Overview

  • President Trump stated he has 'no intention' of firing Federal Reserve Chair Jerome Powell, reversing earlier threats that had unsettled markets.
  • Trump indicated that U.S. tariffs on Chinese goods, currently at 145%, would be reduced 'substantially,' though not eliminated.
  • Major U.S. stock indices surged to one-week highs, with the Dow rising 2.48%, the S&P 500 gaining 2.99%, and the Nasdaq climbing 4.00%.
  • Treasury Secretary Scott Bessent expressed optimism about a de-escalation in the U.S.-China trade conflict, describing the current standoff as unsustainable.
  • Asia-Pacific and European markets tracked Wall Street's gains, while India’s central bank warned of risks to exports despite potential benefits from supply chain shifts.