#TariffsPause #TariffsPause US Tariff Suspension: Trump Tries to Unite the World Against China and Calm Stock Markets
Was it about isolating China or calming the markets? Or both?
Whether it was about isolating China or calming the markets? Or both?
Whatever the case, President Donald Trump surprised the world with his sudden decision to escalate the trade war against America's biggest competitor and postpone the high tariffs imposed on its allies.
The Chinese president insisted he would come to the negotiating table.
In a swift response to China's decision to match the tariffs imposed by the United States, Trump announced on April 9 that the Chinese tariff rate had been increased to 125%.
At the same time, he issued a 90-day suspension of the reciprocal tariffs imposed on trading partners with which the United States has a trade deficit, including important Asian allies such as Japan and South Korea. Trump said in a post on Truth Social: "Because of China's disrespect for world markets, I am hereby increasing the tariff imposed by the United States of America on China to 125%, effective immediately." Until then, China had been subjected to tariffs of 104%. China responded with tariffs of 84%, matching Trump's announcement of "reciprocal" tariffs of 34% and an additional 50% in retaliation. #TariffPause