President Trump has decided to pause tariffs on most nations for 90 days, excluding China, which will face increased tariffs. This decision triggers significant stock market gains as well as concerns about the ongoing trade war with China and escalating tensions in global trade relations.
Trump Announces Temporary Suspension of Tariffs, Excluding China
Trump Announces Temporary Suspension of Tariffs, Excluding China
In a surprising move, President Trump omits China from a 90-day tariff pause while U.S. stocks rise amidst global market fluctuations.
Article Text:
In a notable shift in trade policy, President Trump has declared a 90-day suspension of tariffs on most countries, opting to exclude China from this temporary reprieve. This controversial decision follows China’s announcement of increased levies on U.S. exports, raising the existing tariffs to 125 percent, amid the ongoing trade war between the two major economies.
The announcement led to marked increases in U.S. stock markets, reflecting investor optimism in light of the tariff pause. Nevertheless, concerns remain regarding the escalating trade tensions with China, especially after Beijing responded with a tariff hike of its own to 84 percent on a range of U.S. goods.
The White House indicated that while the blanket tariff levels would be reduced to 10 percent, Canada and Mexico would be exempted from these new changes. This modification comes amidst a backdrop of the European Union initiating its first round of retaliatory tariffs, further complicating the already fragile international trade landscape.
President Trump, in justifying his decision, noted that there appeared to be significant anxiety in the markets, stating, “People were jumping a little bit out of line. They were getting yippy. They were getting a little bit afraid.” He emphasized that the situation is far from resolved—expressing optimism that more than 75 countries are currently interested in trade agreements with the U.S.
The Treasury Secretary reiterated that the paused tariffs align with the administration’s strategic vision all along, something that appears to be evolving as global reactions and market sentiments fluctuate. With the trade war with China intensifying and other nations preparing their responses, the situation remains dynamic and unpredictable.
In a notable shift in trade policy, President Trump has declared a 90-day suspension of tariffs on most countries, opting to exclude China from this temporary reprieve. This controversial decision follows China’s announcement of increased levies on U.S. exports, raising the existing tariffs to 125 percent, amid the ongoing trade war between the two major economies.
The announcement led to marked increases in U.S. stock markets, reflecting investor optimism in light of the tariff pause. Nevertheless, concerns remain regarding the escalating trade tensions with China, especially after Beijing responded with a tariff hike of its own to 84 percent on a range of U.S. goods.
The White House indicated that while the blanket tariff levels would be reduced to 10 percent, Canada and Mexico would be exempted from these new changes. This modification comes amidst a backdrop of the European Union initiating its first round of retaliatory tariffs, further complicating the already fragile international trade landscape.
President Trump, in justifying his decision, noted that there appeared to be significant anxiety in the markets, stating, “People were jumping a little bit out of line. They were getting yippy. They were getting a little bit afraid.” He emphasized that the situation is far from resolved—expressing optimism that more than 75 countries are currently interested in trade agreements with the U.S.
The Treasury Secretary reiterated that the paused tariffs align with the administration’s strategic vision all along, something that appears to be evolving as global reactions and market sentiments fluctuate. With the trade war with China intensifying and other nations preparing their responses, the situation remains dynamic and unpredictable.
