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Both the TSX Composite Index and the Dow Jones rocketed upward Wednesday afternoon on news that U.S. President Donald Trump is pausing reciprocal tariffs on most countries for 90 days.
This does not include China.
The reciprocal duties had been introduced earlier Wednesday.
According to Automotive News, they will be replaced by a 10 per cent levy for 90 days while the White House negotiates with other nations on trade.
The reciprocal tariffs do not apply to vehicles and parts subject to the auto tariff, nor do they apply to steel and aluminum imports.
Written by Ian McCallum
