US stocks end higher as Trump signals lower tariffs

By Mucahithan Avcioglu

ISTANBUL (AA) - US stock markets closed higher Tuesday on rising hopes for stability in global trade after US President Donald Trump hinted at softer tariffs.

"I may give a lot of countries breaks, but it's reciprocal. But we might be even nicer than that. You know, we've been very nice to a lot of countries for a long time, but I call it Liberation Day. April 2 is Liberation Day," Trump said, referring to his deadline when his reciprocal tariff agenda goes global.

"We may take less than what they're charging because they've charged us so much; I don't think they could take it. In other words, they've charged us so much that I'm embarrassed to charge them what they've charged us, but it'll be substantial, and you'll be hearing about that on April 2," he added.

Trump signed an executive order Monday imposing tariffs on countries importing Venezuelan oil.

According to the order, from April 2, a tariff of 25% may be imposed on all goods imported into the US from any country that imports Venezuelan oil, whether directly from Venezuela or indirectly through third parties.

The order said the actions and policies of "the regime of Nicolas Maduro in Venezuela continue to pose an unusual and extraordinary threat" to the national security and foreign policy of the US.

Meanwhile, the Federal Housing Finance Agency (FHFA) said Tuesday that average house prices in the US climbed 4.8% annually and 0.2% monthly in January.

The Conference Board’s monthly confidence index fell to 92.9, below estimates of 94.2 and recording its lowest level since the beginning of 2021.

Despite the negative reading in economic confidence, the Nasdaq Composite rose 0.46% or 83.26 points to close at 18,271.86.

The S&P 500 grew by 0.16% or 9.08 points to 5,776.65.

On the other hand, the Dow Jones Industrial Average was steady, rising slightly by 0.0098%, or 4.18 points, to 42,587.50.

Meanwhile, the VIX Index, also known as the “fear index," dropped by 1.89% to 17.15.