Stock market surges after Trump puts pause on most tariffs

The stock market soared Wednesday after President Donald Trump announced he was putting a pause on tariffs for most countries.

Last week, Trump implemented hefty tariffs on all U.S. trade partners, prompting the market to go into a panic. But the market surged Wednesday after Trump revealed his plan to pause tariffs for over 75 countries. The pause will last 90 days.

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The Trump administration said it would not release the list of the 75 countries exempt from taxes for the moment.

Meanwhile, China faces a 125% tariff.

NBC Bay Area business and tech reporter Scott Budman has more in the video report above.

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