A U.S. court has suspended President Donald Trump’s imposed counter-tariffs on goods imported from various countries.
Following this shocking development, stock markets across Asia and other regions experienced a notable upward trend on Thursday. At the same time, global oil prices also saw a boost. On Wednesday, the U.S. Court of International Trade in New York issued the ruling, stating that President Trump exceeded his authority by unilaterally imposing retaliatory tariffs on multiple countries.
The decision had an immediate impact on investor confidence. Both the S&P 500 and Nasdaq futures rose following the announcement. “Futures” refer to agreements that set the price for buying or selling shares at a specific future date—indicating that shares within these two indices are expected to increase in value.
Japan’s Nikkei Asia index jumped 1.5%, while South Korea’s KOSPI index rose 1%. Other markets across Asia and beyond also saw gains, though not extremely large ones. The tariff suspension also pushed global oil prices higher. Brent Crude and West Texas Intermediate (WTI) crude prices rose by 1.25% per barrel—an encouraging sign for global energy markets.
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However, the gold market reflected a different trend. The price of gold dropped by $23 per ounce globally, while silver rose slightly by 15 cents per ounce. Nick Marro, lead Asia economist at the Economist Intelligence Unit, described the U.S. court’s decision as moderately positive for Asian economies. “Countries with diverse export portfolios may find this ruling somewhat reassuring,” he said. “But not everyone will benefit equally.”
He cautioned that countries heavily reliant on automobile and electronics exports such as South Korea and Taiwan remain vulnerable to sector-specific tariffs. Moreover, despite the court’s ruling, uncertainty around Trump’s trade policies has only intensified. The Trump administration has already filed an appeal against the court’s decision, signaling that the battle over tariffs is far from over.
