Posted: Thursday, April 10, 2025. 9:20 am CST.
By Zoila Palma: U.S. President Donald Trump announced a 90-day pause on most “reciprocal” tariffs that took effect at midnight—except for China, which will now face an even steeper rate of 125%, up from 104%.
The move marks a sharp reversal for Trump, who had long pushed for aggressive trade measures.
Trump said the increase on Chinese imports was due to Beijing’s “lack of respect” for global markets, following China’s announcement of retaliatory tariffs on U.S. goods.
Tariffs on goods from other nations will revert to a universal 10%, but Mexico and Canada are mostly exempt due to the USMCA agreement, CNN reports.
Wall Street reacted positively to the news: the Dow jumped nearly 3,000 points, the S&P 500 rose 9.5%, and the Nasdaq surged 12.2%—its best day since 2001.
Trump said the pause came after talks with Commerce Secretary Howard Lutnick and Treasury Secretary Scott Bessent, calling it a strategic shift meant to encourage future trade deals.
Still, tariffs on Chinese goods remain a flashpoint. China has vowed to “fight to the end,” with retaliatory measures of its own. Economists say the pause may calm markets in the short term but won’t prevent a possible recession.
While the announcement was welcomed by some in the business community, many cautioned that major levies on steel, aluminum, autos—and the threat of new ones—are still in place, creating ongoing uncertainty for global trade.
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The post International News: Trump announces 90-Day pause on Tariffs—except for China appeared first on Belize News and Opinion on www.breakingbelizenews.com.
Posted: Thursday, April 10, 2025. 9:20 am CST. By Zoila Palma: U.S. President Donald Trump announced a 90-day pause on most “reciprocal” tariffs that took effect
The post International News: Trump announces 90-Day pause on Tariffs—except for China appeared first on Belize News and Opinion on www.breakingbelizenews.com.
