Reciprocal Tariffs Paused for 75+ Countries
Trump said the revised tariff structure would lower import taxes to 10% for over 75 countries that have not retaliated against the United States with their own tariffs. These countries, including India, are now seeking to negotiate individual trade agreements with the U.S., such as a potential Bilateral Trade Agreement.
China Excluded: Tariffs on Chinese Goods Raised to 125%
China, however, remains a major exception. Trump announced an increase in tariffs on Chinese imports to 125%, in retaliation to Beijing’s own move to impose an 84% levy on U.S. goods.
Market Turmoil Prompts Sudden Reversal
The President announced the tariff pause midday Wednesday on Truth Social, during a period of significant financial market volatility. As the announcement broke, the Nasdaq surged to a 20-year high, driven by relief among investors and traders.
Truth Social Post Details Revised Tariff Policy
In his post, Trump emphasized both market concerns and the diplomatic outreach from other nations
Pressure from Wall Street and Advisors
The President’s decision comes amid vocal pushback from Wall Street figures like Bill Ackman, who had called for a 90-day suspension, and Elon Musk, who publicly criticized the tariffs and clashed with Trump advisor Peter Navarro.
Final Message to Markets: “Be Cool!”
Shortly after U.S. markets opened Wednesday, Trump posted a message intended to calm nerves:
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