June S&P 500 E-Mini futures (ESM25) are up +0.97%, and June Nasdaq 100 E-Mini futures (NQM25) are up +1.14% this morning, with investors hopeful that the next wave of U.S. President Donald Trump’s tariffs will be less severe than previously signaled.
Sentiment got a boost after Bloomberg reported that the next round of U.S. tariffs, due on April 2nd, is expected to be more targeted than the sweeping measures previously anticipated. Trump will unveil broad reciprocal tariffs on countries or blocs but is expected to exempt certain ones, and for now, the administration does not plan to introduce additional sector-specific tariffs at the same event - contrary to what Trump had previously hinted, the report said.
