Overview
- President Trump has suspended tariff increases for 75 countries for 90 days, while raising tariffs on Chinese imports to 145%.
- The increased tariffs on China include a 20% penalty tied to allegations of fentanyl production, exempting key sectors like semiconductors.
- Global markets remain turbulent, with significant declines in U.S., European, and Asian indices following these developments.
- China has vowed to 'fight until the end' but left the door open for negotiations based on mutual respect.
- The European Union has paused retaliatory measures, opting to explore negotiations during the 90-day freeze.