Of course! Here is a simplified explanation of what is happening with #FrozenCustomsRates(TariffsPause):

The Trump administration announced a temporary freeze for 90 days on certain tariffs (excluding China) as part of a new plan to reform U.S. trade policy.

Key points:

Trade negotiations: The U.S. administration aims to negotiate with 18 trading partner countries during this period. If no agreement is reached by July 8, 2025, new tariffs may be imposed unless Trump extends the freeze.

Market reaction: U.S. financial markets experienced a significant rise, with the Dow Jones index increasing by over 2000 points after the announcement, but some analysts believe this rise is temporary.

Consumers: Consumer confidence in the U.S. economy improved slightly, but expectations remain cautious due to ongoing concerns about inflation.

International reactions: French President Emmanuel Macron described the freeze as "fragile," noting that high taxes like those imposed on steel and aluminum (25%) are still in place and cost the European Union about 52 billion.