In April 2025, Trump announced a 90-day tariff pause for most countries, except China, which faces tariffs of 145%. This pause seeks to ease trade tensions and stabilize markets after recent declines. However, Trump warned that an extension is unlikely, using the pause as leverage for new concessions, especially from China. Beijing, for its part, denies active negotiations and demands the complete elimination of tariffs. Uncertainty persists, and economists fear disruptions in supply chains if tensions escalate after the pause expires. The situation remains highly volatile and sensitive.