Christmas decoration suppliers in the US are struggling as orders from China have stopped due to tariffs. The trade war between the US and China has led to a halt in orders, which is crucial for Chinese producers of plastic Christmas trees and other festive decorations. As a result, US retailers may have limited or no access to these products, with 87% of Christmas goods worth $4 billion coming from China.

US stocks surged after President Trump announced a 90-day delay in tariffs for countries that hadn't imposed reciprocal tariffs, while raising tariffs on Chinese imports to 125 percent. The Nasdaq jumped over 12%, S&P 500 by 10%, and Dow by 7.9% - the biggest jumps since October 2008 during the Great Recession. Shares of companies like Nvidia, Apple, Microsoft, Walmart, Tesla, United Airlines, Delta Air Lines, and clothing retailers like Nike surged, with some stocks rising over 15%. The initial surge added trillions to the value of US stocks in just five minutes, providing a boost to Americans with investments in 401(k)s and indices.

Global stocks plummeted, with the FTSE opening down 2%, following Donald Trump’s declaration of a "war with the world" and the implementation of new US tariffs, including a 104% levy on Chinese imports. The Nikkei 255 fell 3.9%, Hang Seng lost 1.8%, Kospi declined 1.9%, Shanghai Composite was roughly level, while shares in Australia, New Zealand, and other countries also dropped amidst fears of an all-out trade war and potential economic damage from the import taxes on US goods entering from midnight Washington time.

China will impose an 84% tariff on US goods starting Thursday, a significant escalation of the global trade war sparked by US President Donald Trump’s decision to impose tariffs on imports from almost all nations. Trump's tariffs, which include a 104% effective levy on Chinese goods, have caused global financial markets to tank, with the FTSE 100 dropping 3.6%, Germany's DAX falling 4%, and France's CAC 40 declining 4%. US index funds are also expected to fall when they open at 2:30pm UK time. Trump appeared unrepentant about the economic damage caused by his decisions, boasting that countries are "kissing my ass" in an attempt to negotiate with him.