President Donald Trump has announced a 90-day pause on tariffs for non-retaliating countries, while increasing tariffs on China to 125%. In a post on Truth Social, Trump stated that the pause would lower tariff rates to 10% for countries not retaliating against his initial tariff plan. Following the announcement, stocks on Wall Street surged.
Trump explained his decision to raise tariffs on China, citing the country’s lack of respect towards global markets. He expressed hope that China would realize that exploiting the US and other countries is no longer sustainable.
Conversely, Trump noted that over 75 countries have reached out to negotiate trade issues without retaliating against the US. As a result, he has authorized a 90-day pause on tariffs for these countries, with a reduced reciprocal tariff of 10%.
This announcement has caused significant reactions in the financial markets, and the situation is still developing. Stay tuned for more updates on this evolving story.
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