Thu Apr 10 03:40:00 UTC 2025: **Trump Halts Most Tariffs After Market Turmoil, Increases Tariffs on China**
NEW YORK – In a dramatic reversal, President Donald Trump announced a 90-day pause on his planned tariffs on most countries, excluding China. This follows days of intense pressure from Republicans and business leaders who warned of a potential global recession. The decision, seemingly driven by concerns over the bond market, sent Wall Street soaring.
The Dow Jones Industrial Average jumped nearly 8 percent, its best day in years, while the Nasdaq saw its best day in 24 years. Oil prices and the dollar also saw significant increases.
While the majority of tariffs are paused, with a reduced 10% reciprocal tariff in effect for the 90-day period, Trump simultaneously announced a significant increase in tariffs on Chinese goods, raising them to 125 percent. He cited a lack of respect from China in international markets as justification. He indicated he believes China wants a trade deal but is unsure how to proceed.
The administration’s sudden shift comes after Treasury Secretary Scott Bessent reportedly raised concerns with Trump about the accelerating selloff in the US Treasury market. Trump himself acknowledged watching the bond market and feeling the pressure from market anxieties.
The pause provides temporary relief for countries facing the initial tariffs, including India. India’s Ministry of External Affairs spokesperson Randhir Jaiswal stated that negotiations for a bilateral trade agreement with the US are ongoing.
The unexpected nature of the decision and its apparent reliance on market reactions rather than a pre-planned strategy has sparked debate. The 90-day pause offers a window for negotiation, but the increased tariffs on China maintain significant pressure on the ongoing trade disputes.
First Piper 