In a surprising shift, President Trump has announced a temporary 90-day pause on reciprocal tariffs against most nations, a move that significantly buoyed U.S. stock markets. However, he maintained a steep 125 percent tariff on Chinese exports, an escalation in an already tense trade conflict between the United States and China. This decision coincided with China's recent hike in tariffs on U.S. goods to 84 percent, reflecting the ongoing troubles between the two economic giants.
Trump Pauses Tariffs for 90 Days, Excluding China
Trump Pauses Tariffs for 90 Days, Excluding China
President Trump's unexpected tariff pause has sparked market gains, but the ongoing trade tensions with China remain intense.
The White House revealed plans to lower the general tariffs to 10 percent but confirmed that Canada and Mexico would be exempt, underscoring their status as key trading partners. The change in approach from Trump follows newly approved retaliatory measures from the European Union and a notable sell-off in U.S. bonds, typically viewed as secure investments, amid troubling downturns in international markets.
When questioned about the reasoning behind the pause, Trump remarked that people seemed to be overreacting, stating, “They were getting yippy. They were getting a little bit afraid.” He assured that the trade negotiations were far from concluded, emphasizing that multiple countries displayed a substantial interest in trade agreements. The Treasury Secretary later remarked that this tariff reversal had been part of Trump's broader strategy from the outset. As the landscape of international trade continues to shift, all eyes remain on the U.S.-China trade relationship and the ripple effects on the global economy.
When questioned about the reasoning behind the pause, Trump remarked that people seemed to be overreacting, stating, “They were getting yippy. They were getting a little bit afraid.” He assured that the trade negotiations were far from concluded, emphasizing that multiple countries displayed a substantial interest in trade agreements. The Treasury Secretary later remarked that this tariff reversal had been part of Trump's broader strategy from the outset. As the landscape of international trade continues to shift, all eyes remain on the U.S.-China trade relationship and the ripple effects on the global economy.
