Donald Trump’s announcement of a 90-day pause on tariffs above 10% for most nations, excluding China, has triggered a significant rally in Wall Street and the Australian share market, with the S&P/ASX 200 rising 6.3% and adding over $150bn in value. Despite the tariff pause, Australia, the UK, and New Zealand remain subject to a baseline 10% tariff, while concerns persist over the ongoing trade tensions with China affecting Australia’s economy. The Australian dollar also rebounded, rising to US61.5c, amidst the volatile market conditions and Trump’s comments regarding the tariff adjustments.