United States President Donald Trump has announced a complete pause of 90-days on all the “reciprocal” tariffs which came into effect on April 9 with an exception of China.
Trump also announced that he is raising tariff charge to China by 125 per cent, in a Truth Social post where he stated, "hopefully in the near future, China will realize that the days of ripping off the U.S.A., and other Countries, is no longer sustainable or acceptable."
China on Wednesday hit back at Trump라이브 바카라 tariffs on Chinese exports with 84 per cent levies on its imports from America, intensifying the trade war between the top two economies of the world.
The hike in levies, up from 34 per cent, came hours after Trump라이브 바카라 explosive new tariffs on 60 countries, including 104 per cent on China, came into effect after midnight of April 9 in US time.
Trump's threat of the additional 50 per cent tariffs on China on Monday came after Beijing refused to withdraw the 34 per cent tariffs on US goods by Tuesday, which it had announced to retaliate Trump's 34 per cent levy on Chinese goods announced last week.
Trump's Post On Tariff Pause
Trump posted an elaborate statement about pausing the tariffs for 90 days except for China.
He wrote, "Based on the lack of respect that China has shown to the World라이브 바카라 Markets, I am hereby raising the Tariff charged to China by the United States of America to 125%, effective immediately. At some point, hopefully in the near future, China will realize that the days of ripping off the U.S.A., and other Countries, is no longer sustainable or acceptable."
He continued to say, "Conversely, and based on the fact that more than 75 Countries have called Representatives of the United States, including the Departments of Commerce, Treasury, and the USTR, to negotiate a solution to the subjects being discussed relative to Trade, Trade Barriers, Tariffs, Currency Manipulation, and Non Monetary Tariffs, and that these Countries have not, at my strong suggestion, retaliated in any way, shape, or form against the United States, I have authorized a 90 day PAUSE, and a substantially lowered Reciprocal Tariff during this period, of 10%, also effective immediately. Thank you for your attention to this matter!"
What Does This Pause Mean?
Treasury Secretary Scott Bessent reportedly said, "Trump had great courage to stay the course until this moment."
He added, "The administration told countries around the world do not retaliate and you will be rewarded, so every country in the world who wants to come and negotiate, we are willing to hear you."
However in his latest post, Trump did not say that he was pausing the 10 per cent universal tariff on all trading partners, with the exception of Canada and Mexico, that went into effect over the weekend.
Bessent confirmed that countries that were subjects of reciprocal tariffs will continue to have a 10 per cent tariff levied on them.
According to CNN, stocks rocketed higher on the news, with the Dow surging 2,200 points, or 5.9 per cent.
The S&P 500 rose 6.5% and the Nasdaq was more than 8 per cent higher.
