US President Donald Trump has announced the suspension of reciprocal tariffs and the general ten percent import tariffs for 90 days. Financial markets are experiencing a surge after President Trump announced a 90-day “grace period” for countries that have not taken countermeasures against the US. The NASDAQ index has seen a gain of nine percent, while the S&P 500 index has increased by eight percent. However, this rule does not apply to China. On the contrary, Trump has drastically increased the tariffs on Chinese imports and raised them immediately to 125 percent. While other countries benefit from a three-month tariff pause, Trump is sticking to his tough stance on China. On the Truth Social platform, he declared that China is the main opponent of the US economy. Beijing has already announced counter-tariffs that will take effect from Thursday. The Chinese special tariffs on US imports will rise to 84 percent. The European Union is also planning retaliatory measures. Starting from Tuesday, US jeans and motorcycles will be subject to higher tariffs. US Trade Representative Jamie Greer has already been invited before Congress to defend Trump’s tariff policy. Despite his soothing words, uncertainty is growing in financial and economic circles.
Financial Markets Surge
