A significant political and economic decision was made by President Donald Trump on April 9, 2025, where he announced a temporary freeze for 90 days on additional tariffs imposed under the "reciprocal tariff policy" on most countries, excluding China. This freeze began on April 10 and lasts until July 9, 2025.

Key points:

Exclusion of China: Tariffs on imports from China increased instead of being frozen, reaching 125% and then 145%.

Reasons for the decision: This came in response to pressure from businesses and financial markets after widespread economic disruptions.

Market reaction: U.S. markets saw a strong recovery, with the S&P 500 index rising by the largest percentage since 2008.

Impact on inflation and consumers: Despite a slight improvement in consumer confidence, inflation expectations remained high (6.5% over the year), the highest since 1981.

Global impact: Countries like South Africa were negatively affected by the tariffs, despite the temporary freeze, leading to a reduction in their economic growth expectations to just 1.5%.

Future: Trump stated that a second freeze is "unlikely," indicating the possibility of returning to impose high tariffs later if satisfactory trade agreements are not signed.

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