Tokyo, Aug 12 (AP) Global shares mostly advanced Tuesday after President Donald Trump delayed raising tariffs on China for another 90 days.

France's CAC 40 gained 0.1 per cent to 7,706.59, while Germany's DAX shed 0.4 per cent to 23,990.54. Britain's FTSE 100 rose 0.3 per cent to 9,154.82. The futures for the S&P 500 and Dow Jones Industrial Average were up about 0.1 per cent.

In Asia, Tokyo's benchmark Nikkei 225 jumped 2.2 per cent to finish at 42,718.17, topping its record. Toyota Motor Corp.'s shares surged nearly 3 per cent, and other heavyweight shares also saw big gains after the US confirmed that tariffs on imports from Japan would be taxed at 15 per cent and not subject to “stacking” the rate on top of already existing duties.

Honda Motor Co.'s stocks finished 2.6 per cent higher, chip maker Tokyo Electron gained 1.1 per cent, while electronics maker Sharp's stocks jumped 11 per cent. Sanrio, the company behind Hello Kitty, saw its shares surge 16 per cent, while watchmaker Seiko added nearly 14 per cent.

Hong Kong's Hang Seng rose 0.3 per cent to 24,969.68, while the Shanghai Composite climbed 0.5 per cent to 3,665.92.

Trump signed an executive order Monday, putting on hold a possible showdown between the world's two major economies to allow time for more talks on a broad trade agreement. Without an extension, taxes on Chinese imports might have jumped from an already high 30 per cent.

Beijing could have responded by raising retaliatory levies on US exports to China, but it issued a similar statement about the extension of the tariff pause.

The reprieve makes room for a possible deal with Trump, but it also prolongs the uncertainty that has bedevilled companies since the president began escalating his trade war.

“The extension isn't about goodwill; it's about keeping oxygen in the room for deals that matter,” Stephen Innes of SPI Asset Management said in a commentary.

Elsewhere in Asia, Australia's S&P/ASX 200 rose 0.4 per cent to 8,880.80. South Korea's Kospi lost 0.5 per cent to 3,189.91.

On Monday, the S&P 500 lost 0.3 per cent, the Dow industrials fell 0.5 per cent, and the Nasdaq composite declined 0.3 per cent.

Later Tuesday, the US government was due to report on inflation across the country in July. Economists expect the data to show US consumers had to pay prices for groceries, gasoline and other costs of living that were 2.8 per cent higher than a year earlier, a slight acceleration from June's 2.7 per cent inflation.

Inflation has remained above 2 per cent, even if it has improved substantially from its peak above 9 per cent three years ago. And the worry is that Trump's tariffs could push prices still higher.

That in turn is raising fears about a potential, worst-case scenario called “stagflation”, where the economy stagnates but inflation remains high. The Federal Reserve has no good tool to fix both at once, and it would need to concentrate on either the job market or inflation first. But helping one of those areas by moving interest rates would likely hurt the other.

In energy trading, benchmark US crude fell 16 cents to USD 63.80 a barrel. Brent crude, the international standard, lost 9 cents to USD 66.54 a barrel.

In currency trading, the US dollar edged up to 148.46 Japanese yen from 148.15 yen. The euro cost USD 1.1617, inching down from USD 1.1618. (AP) SKS GRS GRS

Tariff pause delays planned tariff increase, easing immediate trade tensions and averting retaliatory levies for now. An executive order delayed a scheduled increase in tariffs on imports from China to allow more negotiations, averting an immediate rise in duties and possible retaliatory levies, while confirming that certain import duties would not be subject to duty stacking. The pause eased near-term market disruption and supported equity gains but sustained uncertainty for businesses and kept upward pressure on consumer prices, posing stagflation risks that complicate monetary policy responses.