President Donald Trump announced a complete pause on all the “reciprocal” tariffs that went into effect at midnight, with the exception of China.
Tariffs on China will be increased to 125% from 104%, he said.
Trump in a Truth Social post Wednesday said he has “authorized a 90 day PAUSE, and a substantially lowered Reciprocal Tariff during this period, of 10%, also effective immediately.”
“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 said in his social media post. “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 wrote.
The higher tariffs on China came after Beijing announced new retaliatory tariffs on the United States to take effect on Thursday. The Trump administration has taken particular aim at China’s trade practices.
Trump had “great courage to stay the course until this moment,” Treasury Secretary Scott Bessent said on Wednesday. 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,” he added.
Bessent and and Commerce Secretary Howard Lutnick were with Trump when he sent his message on Truth Social, Lutnick confirmed on a post on X.
“Scott Bessent and I sat with the President while he wrote one of the most extraordinary Truth posts of his Presidency,” Lutnick said. “The world is ready to work with President Trump to fix global trade, and China has chosen the opposite direction.”
Stocks rocketed higher on the news, with the Dow surging 2,200 points, or 5.9%. The S&P 500 rose 6.5% and the Nasdaq was more than 8% higher.
Trump, however, did not indicate he was pausing the 10% universal tariff on all trading partners, with the exception of Canada and Mexico, that went into effect over the weekend. Therefore, countries that were subjects of reciprocal tariffs will continue to have a 10% tariff levied on them, Bessent confirmed.
This is a developing story and will be updated.
https://edition.cnn.com/2025/04/09/business/reciprocal-tariff-pause-trump/index.html
“Stocks rocketed higher on the news, with the Dow surging 2,200 points, or 5.9%. The S&P 500 rose 6.5% and the Nasdaq was more than 8% higher.”
I wonder how many of Trump’s buddies bought stock just before he announced this suspension of the tariffs. Something very fishy is going on.
The Trump ‘government’ must have cashed like hell today…………………
The ‘trade defecit’ with the EU is no problem anymore hahahaha
Those of us who don’t have spare cash to invest and stock brokers on speed dial still had to sweat it out, whilst Krasnov’s criminal friends were buying stocks at knock down prices.
From the BBC.
“After a week of market turmoil, Donald Trump is dialing back his ambitious tariff plans.
The reordering of the global economic order is on hold, at least for now, and the promised golden age of American manufacturing will have to wait.
It’s unclear whether this was Trump’s plan from the start or a reaction to investor panic and growing public disapproval. In the end, it doesn’t really matter.
The reality is that the US is making nice – or at least nicer – with nations that held their retaliatory trade fire, letting the stock market bounce back and leaning into a trade war with China.
That will have global economic repercussions of its own, but it’s more in line with recent American foreign policy, including under Democratic President Joe Biden, that seeks to constrain Chinese ambitions.
The big question, however, is whether Trump’s actions over the past week – setting allies scrambling and threatening the established global order – will make such a strategy more difficult to pursue.”
Trump backed down. No matter how he wants to frame it. He got cold feet after the EU also announced 25% tariffs on US products.
Mary Taylor Greene has made a lot of money thanks to Trumps scam with tariffs………….
Trump and his billionaire buddies are reaping the benefits by having bought up all the cheap stocks. The rich are getting richer, now that the stocks are going up again, while Joe and Jane Schmuck get the shaft.
I wonder how many brainless maga idiots see this dirty dealmaking by their orange god.
It’s either insider trading, Trump getting cold feet, or a bit of both. Whatever it was,he made himself look foolish again. MAGA is on pause for 90 days.
I think it’s probably market manipulation. This crook wasn’t bothered by his brainless baboons storming or Capitol, either. He has no morals.