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US President Donald Trump has a diagram while talking during the commercial message “Make America Rich again” on April 2, 2025 in Washington, Colombia County.
Chip Somodevil Getty Images News | Ghetto images
President Donald Trump Wednesday dropped out of Wednesday New tariff Tariffs to import most of the US trading partners up to 10% in 90 days to allow Trade negotiations With these countries.
Trump announced pause hours after goods from nearly 90 countries became subordinated to harder, so-called Reciprocal tariffs imposed by the United States.
The president also said in a social media publication that he raises the rates imposed on imports by China Up to 125% “in force immediately” due to “the lack of respect that China showed in the world markets.”
China, which is the third largest US trading partner, earlier on Wednesday said it would increase its tariff rate for imports from US up to 84%.
Trump said “more than 75 countries” contacted US officials to negotiate after he revealed his new rates last week.
Stock exchange It indexed sharply higher on Wednesday when Trump announced, turning four days losses. The BenchMark S&P 500 Index jumped by 7%, which puts it on its way for its biggest profit in a day in five years.
When asked later, the reason for his decision, Trump told reporters, “Well, I thought people were jumping a little out of order.”
“They became yippy, you know, they were a little afraid, they were a little afraid,” Trump said in the White House.
Finance Minister Scott Beset has claimed to reporters that Trump has always intended to put the brakes on the wide -ranging rates that the president announced last week.
“It was his strategy all the time,” Beshent said in the White House, where employees, including him, denied days that the tariffs would be stopped.
On April 2, Trump said he would impose a base rate of 10% on import tariffs from over 180 countries.
A subset of imports of 90 countries will be subject to reciprocal tariffs that came into force on Wednesday. These enhanced levies varied from low from 11% to high from 50%.
The financial markets have been in turmoil since Trump has declared a plan, with US stock markets undergoing four rights declines since Tuesday.
Senate’s minority leader Chuck Sumer, D-Ny, criticized Trump on Wednesday, saying that the president “feels the heat of Democrats and all over America about how bad these tariffs are.”
“He’s trying, he retires and that’s a nice thing,” Sumer said.
“This is the government of the chaos,” said Sumer, “he continues to change things from day to day. His advisers are fighting each other, calling each other names and you cannot manage a country with such chaos, with such unpredictability, with such a lack of understanding of what is happening in the world and the facts.
Secretary of Trade Howard Luni, in a tweetHe said that he and Finance Minister Scott were sitting with Trump as he wrote a message about Truth Social, “one of the most unusual positions of the truth of his Presidency.”
“The world is ready to work with President Trump to repair global trade and China has chosen the opposite direction,” Luni wrote.
Read Trump’s full social message:
Based on the lack of respect that China showed in the world markets, I raise the tariff loaded in China from the United States to 125%, in force immediately. At one point, we hope in the near future, China will realize that the days of detachment of the US and other countries are no longer sustainable or acceptable.
Conversly, and Based on the fact that more than 75 Countries have Called Represttives of the United States, Including the Departments of Commerce, Treasury, and the Ustr, to Negootate A SOLIETTY Trade, Trade Barriers, Tariffs, Currency Manipulation, and Non Monetary Tariffs, and That These Countries Have Not, At My Strong Suggestion, Retalserved in Any Way, Shape, Or Form AGAINST Day pause and significantly reduced reciprocal tariff during this period of 10%, also in force immediately. Thank you for your attention to this question!