Trump announces 90-day pause on tariffs for most countries, but raises them for China
www.lemonde.fr
In a dramatic shift, the US president paused his reciprocal tariffs on most countries, maintaining a 10% tariff on nearly all global imports while raising the tariff on Chinese goods to 125%. Global markets surged on the development.

In a dramatic shift, the US president paused tariffs on most nations while hiking China’s rate to 125%, triggering a global market rally but leaving key policy details unclear.

Facing a global market meltdown, President Donald Trump on Wednesday, April 9, abruptly backed down on his tariffs on most nations for 90 days but raised his tax rate on Chinese imports to 125%. It was seemingly an attempt to narrow what had been an unprecedented trade war between the United States and most of the world to one between the US and China.

“Based on the lack of respect that China has shown to the World’s Markets, I am hereby raising the Tariff charged to China by the United States of America to 125%, effective immediately,” Trump wrote on Truth Social. Saying that more than 75 countries had asked for negotiations over the tariffs, Trump said he “authorized a 90 day PAUSE, and a substantially lowered Reciprocal Tariff during this period, of 10%, also effective immediately.”

Global markets surged on the development, but the precise details of Trump’s plans to ease tariffs on non-China trade partners were not immediately clear. Shortly after Trump announced his latest pivot on his Truth Social platform, the S&P 500 surged 6.0% higher to 5,281.44, snapping a brutal run of losses since Trump’s “Liberation Day” tariff announcement a week ago.

    • jarfil@beehaw.org
      0·
      11 days ago

      JD Vance defended Trump’s controversial tariffs by stating, “We borrow money from Chinese peasants to buy the things those Chinese peasants produce.”

      China’s Foreign Ministry called the comment “ignorant” and “disrespectful.”

      Trump:

      Based on the lack of respect that China has shown to the World’s Markets […]

      They didn’t say thank you. /s

  • MelonYellow@lemmy.caEnglish
    0·
    11 days ago

    They’re just playing games reaping the rewards off the stock market. Back and forth, back and forth. It’s so obvious.

  • tormeh@discuss.tchncs.de
    0·
    11 days ago

    Is this a distraction? Is he currently purging the military and security forces of disloyal officers or something? Is there an attack on judicial independence atm? Wtfis going on?