Trump’s tariff turnaround salvages fortunes of hard-hit Arizona companies


Nearly every Arizona-based public company took a hit last week after President Donald Trump announced tariffs on most of the world’s imports, but Wednesday’s delay of most of those tariffs was a change of course.Trump’s decision to set a 90-day pause on tariffs the administration had previously announced gave Wall Street a jolt, with the Dow Jones average gaining nearly 3,000 points to close at 40,608. The turnaround likewise boosted hard-hit Valley companies.Carvana Co., for instance, whose stock got the biggest initial wallop among Arizona companies last week — down 28.3% last Friday and sliding further the first two days of this week — got nearly instant relief Wednesday with a 25% gain to close with a share price of $220.44. That price — which continued to rise in after-hours trading — put the stock at break even compared to where the Tempe-based online car seller’s shares were before Trump’s April 2 announcement.The other Valley giants that felt the biggest brunt last week were se …

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