Maersk Stock Surges 11% on Trump's Tariff Suspension

Danish shipping giant Maersk, a bellwether for global trade, saw its stock surge by 11% in the morning of Thursday. This rebound came after U.S. President Donald Trump announced a 90-day suspension of higher tariffs on certain countries.

The escalating trade war has been a significant concern for the shipping and transportation industry. Maersk, in a statement last week, described the U.S. tariff plans as "substantial" and noted that in their current form, they are clearly not good news for the global economy, stability, and trade.

The company had previously warned that Trump's tariffs on countries like Mexico and Canada could lead to short-term inflation. The suspension of these tariffs has been seen as a positive development by the market, with some analysts suggesting that the worst-case scenario may have been averted.

However, the shadow of the global trade war is likely to linger for some time. Investors remain cautious about the increasingly tense situation, and the long-term impact of the trade war on global trade and the shipping industry remains uncertain.

Maersk's stock price peaked at a 11% increase before retreating to a 7.6% gain by 9:20 AM London time. Another global leader in container shipping, Hamburg-based Hapag-Lloyd, also saw its stock price rise by 7.5%.

Maersk had earlier stated that it was too early to predict the ultimate outcome of the trade war, as it would depend on how countries respond to the tariff plans. The company noted that responses could range from negotiations and retaliatory tariffs to adjustments in import tariffs or a combination of these measures.