Trump's tariff policy adjustments were seen as being forced by pressure from financial markets, particularly the rapid rise in yields in the U.S. bond market, which threaten the dollar's dominance and economic stability. In addition, he granted exemptions for certain electronic products (such as smartphones, computers, and chips) from tariffs, but the U.S. Secretary of Commerce stated that this exemption is a temporary measure, and there may be separate tariffs on these products in the future. Recent statements from Trump suggest he may seek to reach a 'fair agreement' with China, and reports indicate that tariffs on China could be reduced to 50-65%, but the specific policies remain unclear, causing concern in the market about his erratic decision-making.

China strongly opposes the U.S. tariff policy and announced an increase in retaliatory tariffs on U.S. goods from 84% to 125%, calling on the U.S. to completely eliminate 'reciprocal tariffs.' Other countries around the world, such as the European Union and Canada, welcomed the suspension of tariffs but remain prepared to respond, wary of Chinese goods potentially shifting to their markets.

Summary: Trump suspended global tariffs, excluding China, for 90 days, but raised those on China to 145%, creating market turmoil due to policy inconsistencies. The future of U.S.-China trade negotiations and tariff directions remains uncertain.

Details of U.S.-China trade negotiations

Impact of global trade organizations