Overview

• President Trump announced a 90-day suspension of newly implemented tariffs for most countries, lowering general import duties to 10%, but excluded China from this pause.
• Tariffs on Chinese imports were raised to 125%, intensifying the trade conflict between the two largest global economies.
• Global stock markets rebounded sharply, with major indices in the U.S., Europe, and Asia posting significant gains following the tariff pause announcement.
• Critics, including Senators Chuck Schumer and Adam Schiff, condemned the erratic trade policy, citing concerns over market manipulation and insider trading opportunities.
• The European Union responded by temporarily halving its retaliatory tariffs on U.S. goods, signaling a willingness to negotiate during the 90-day pause.