President Trump announces 90-day tariff pause for some countries; stock market rallies

CNBC

  • President Donald Trump announced a 90-day pause on the full effect of his new tariffs for at least some countries.
  • Trump also said that he was raising the tariffs imposed on imports from China to 125% “effective immediately” due to the “lack of respect that China has shown to the World’s Markets.”

President Donald Trump on Wednesday announced a 90-day pause on the full effect of his new tariffs for at least some countries.

Trump in a social media post also said that he “substantially lowered Reciprocal Tariff during this period, of 10%, also effective immediately. ”

Trump additionally said he was raising the tariffs imposed on imports from China to 125% “effective immediately” due to the “lack of respect that China has shown to the World’s Markets.”

Trump’s Truth Social post credited his decision to pause the full effect of tariffs on the fact that “more than 75 Countries” have contacted U.S. officials “to negotiate a solution” to trade concerns that he raised in imposing the new duties.

Commerce Secretary Howard Lutnick, in a tweet, said that he and Treasury Secretary Scott Bessent sat with Trump while he wrote out the announcement on Truth Social, “one of the most extraordinary Truth posts of his Presidency.”

“The world is ready to work with President Trump to fix global trade, and China has chosen the opposite direction,” Lutnick wrote.

MarketWatch

This entry was posted in 47th President Trump, Economy, Tariffs, Uncategorized. Bookmark the permalink.

2 Responses to President Trump announces 90-day tariff pause for some countries; stock market rallies

  1. Re-Farmer's avatar Re-Farmer says:

    China has – and so has Canada. Even Poilievre talks about the “unjustified” tariffs the US is applying, even though these are reciprocal tariffs, because we already had tariffs on US goods. That is one major problem I have with Poilievre. I’ll still vote for him, but with some reservations on this topic.

    Canada is very much in China’s pocket right now. A Chinese Liberal MP ended up quitting after he suggested Conservative MPs should be turned over to China for a bounty – and Marx Carnage stood by him, saying it was a mistake and a “learning opportunity”. That MP just got replaced with another Chinese dude that can be seen in videos, in uniform, singing a song praising the CCP.

    Liked by 2 people

Leave a comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.