US card companies rise after Trump announces 90-day tariff pause

Shares of U.S. card companies jump, reversing course after U.S. President Donald Trump announces 90-day pause on many of his new tariffs that he had unveiled initially last week

Visa V.N rises 6%, Mastercard MA.N up 6.1% and American Express AXP.N jumps 12.1%

Trump, however, says he would raise the tariff on Chinese imports to 125% from the 104% level

Payment firms face the risk of weak credit card spending, as consumer confidence is expected to take a hit from economic uncertainties stoked by the trade war