United States President Donald Trump has issued a 90-day pause for « reciprocal tariffs, » and lowered the tariff rate to 10% on countries that do not retaliate with counter-tariffs.
However, the President also said he would increase the reciprocal tariff rate on China to 125% due to the country’s counter-tariffs against the US. Trump wrote in an April 9 Truth Social post:
« 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. »
According to data from TradingView, the S&P 500 index rallied by close to 7% and the Nasdaq is up roughly 8% following the announcement, showcasing the high volatility of capital markets amid the macroeconomic uncertainty and the potential for a protracted trade conflict.
Source: Donald J. Trump
Related: Bitcoin has ‘fully decoupled’ despite tariff turmoil, says Adam Back
This is a developing story, and further information will be added as it becomes available.
