Shares across fashion companies listed on the Australian Stock Exchange have surged this morning after US president Donald Trump paused tariffs across most countries for the next three months.
The All Ords list surged by 380.6 points to 7,942.3, up 5.03 per cent. The All Ords includes Australia’s top 500 listed on the ASX – including fashion entities such as Accent Group and Myer.
Global jeweller Lovisa led the surge on the ASX this morning, up by just over 10 per cent at the time of writing, or by around $2.39, to a current price of $24.30.
Universal Store recorded a 60 cent lift in its share price to $7.46 at the time of writing.
Premier Investments is also up by $1.61 to $20.26.
Lifts were felt across nearly all listed fashion-related entities, with the only one reporting a decline being Articore Group, the holding company of Redbubble, a marketplace selling print-on-demand products including apparel. It's core market is the United States, where it also manages TeePublic.
The movements come after Trump lowered nearly all tariffs globally to a baseline of 10 per cent for the next 90 days. China was not so lucky, with Trump recently announcing a bump up of 125 per cent after China began retaliating with its own tariffs on US goods.