In a social media post, President Trump described a recent phone call with the nation’s leader, who expressed a willingness to eliminate tariffs entirely if a trade agreement could be negotiated. This unexpected offer was seen as a major concession, signaling a significant shift in the nation’s approach to trade relations with the U.S.
Trump’s announcement sparked immediate reactions across the financial markets, particularly from companies that manufacture goods in the country. Shares in major corporations like Nike, which have substantial operations in the nation, rose significantly.