Global stocks and the dollar are poised for weekly gains as President Trump’s decision to backtrack on tariffs fuels investor optimism. Markets across the Asia-Pacific region climb amid hopes of a thaw in the U.S.-China trade war.

President Trump’s assertions of collecting $2 billion daily from tariffs are facing scrutiny as official figures from U.S. Customs and Border Protection reveal significantly lower revenues. The discrepancy raises questions about the administration’s portrayal of its trade policies and their actual impact.

In a surprising turn of events, former President Donald Trump has lifted reciprocal tariffs on electronics while setting his sights on imposing new levies on semiconductors. Targeting Chinese technology, he has implemented a 20% fentanyl tariff and initiated a “National Security Tariff Investigation” that could reshape the tech industry in the coming months.