#TariffsPause The President of the United States, Donald Trump, announced this Wednesday that he had authorized a 90-day pause on the imposition of the highest tariffs for dozens of countries, while simultaneously imposing an increase in tariffs on Chinese products up to 125%.
In a message on his social network Truth Social, Trump reported that he had reduced the tariffs announced last week to a universal 10% tariff for all countries. This will not affect Mexico and Canada, which had already been exempted from the "reciprocal" levies announced by the U.S. president.
On the other hand, the tariffs on automobiles, steel, and aluminum that the president announced a few weeks ago remain in place and do affect Mexican and U.S. products.
Following Trump's announcement, Wall Street recorded historic gains, with the S&P 500 index closing up 9.5%, the Dow Jones up 7.8%, and the Nasdaq up 12.1%.
Hours later, Asian markets also opened with significant gains reflecting investor relief.
In a Truth Social post, Trump stated this Wednesday that he has authorized a 90-day PAUSE and a substantially lower reciprocal tariff during this period, of 10%, also effective immediately.
Shortly after the announcement, Treasury Secretary Scott Bessent stated that the pause was part of "his strategy from the beginning." But he also said that Trump had great courage to stand firm until this moment.
The imposition of tariffs last week had caused global stock markets to plummet, the price of the dollar to fall, and a massive sell-off of U.S. bonds, complicating government debt financing.
Trump said in his message this Wednesday that his decision to pause the imposition of tariffs came because representatives from 75 nations had reached out to his government to "negotiate a solution to the issues........
In a message on his social network Truth Social, Trump reported that he had reduced the tariffs announced last week to a universal 10% tariff for all countries. This will not affect Mexico and Canada, which had already been exempted from the "reciprocal" levies announced by the U.S. president.
On the other hand, the tariffs on automobiles, steel, and aluminum that the president announced a few weeks ago remain in place and do affect Mexican and U.S. products.
Following Trump's announcement, Wall Street recorded historic gains, with the S&P 500 index closing up 9.5%, the Dow Jones up 7.8%, and the Nasdaq up 12.1%.
Hours later, Asian markets also opened with significant gains reflecting investor relief.
In a Truth Social post, Trump stated this Wednesday that he has authorized a 90-day PAUSE and a substantially lower reciprocal tariff during this period, of 10%, also effective immediately.
Shortly after the announcement, Treasury Secretary Scott Bessent stated that the pause was part of "his strategy from the beginning." But he also said that Trump had great courage to stand firm until this moment.
The imposition of tariffs last week had caused global stock markets to plummet, the price of the dollar to fall, and a massive sell-off of U.S. bonds, complicating government debt financing.
Trump said in his message this Wednesday that his decision to pause the imposition of tariffs came because representatives from 75 nations had reached out to his government to "negotiate a solution to the issues........