Here is a summary of the content to 100 words:
Fashion stocks surged after US President Donald Trump announced a 90-day pause on tariffs on many countries, excluding China. The original tariffs would have severely impacted apparel manufacturing countries. Instead, a 10% universal tariff will be imposed on all trading partners, with China’s tariffs increasing to 125%. The move was seen as a relief for fashion companies, many of which had seen their stock prices plummet. Brands like Michael Kors, VF Corp, Levi’s, Ralph Lauren, and Nike saw significant stock price increases. The pause provides breathing room, but China’s tariffs will still pose challenges for many companies.
