English
President Donald Trump today announced a 90 days pause for the steep tariffs he declared just days ago – the reprieve affects all countries except his main trade rival – China – which will see its tariffs go up to 125 percent.
The announcement, which Trump teased with a call to the public to start buying stocks, sent the financial markets shooting upwards. Trump said that 75 countries have approached the US to seek for new trade deals after his tariff announcement.
At some point, hopefully in the near future, China will realize that the days of ripping off the USA and other countries is no longer sustainable or acceptable. Conversely, and based on the fact that more than 75 countries have called representatives of the United States, including the departments of commerce, treasury and the USTR, to negotiate a solution, I have authorized a 90 day PAUSE and a substantially lowered reciprocal tariff during this period of 10 percent effective immediately, Trump announced over his Truth Social account.
The trade war caused major commotion on the financial markets, with significant downswings in the prices of stocks, bonds and between the currencies of the most affected countries.
