Asian markets closed higher today as traders showed relief following Trump’s unexpected 90-day freeze on tariffs for most countries. China’s CSI300 ended 1.35% higher, the Hong Kong Hang Seng Index rose 2.1%, and the Shanghai Composite Index increased 1.2%. Despite the global tariff pause, Trump immediately increased duties on Chinese imports to 125% from 104%, continuing the escalation between the world’s two largest economies. In response, China implemented its previously announced 84% tariffs on all U.S. imports, hinting at further countermeasures against what it calls U.S. “blackmail.” Trump's “baseline” 10% tariff will still apply to all countries. Despite the tensions, Trump suggested a resolution with China is possible, stating, “China wants to make a deal. They just don't know how quite to go about it.” U.S. officials indicated they will prioritize talks with other countries.