Trump Suspends Most Tariffs but Escalates Trade War with China

The U.S. grants a 90-day reprieve on tariffs for most countries while imposing harsher measures on Chinese goods, prompting retaliation and market turmoil.

Donald Trump has suspended reciprocal tariffs for 90 days for all trading partners except China, signaling potential negotiation opportunities.
Tariffs on Chinese goods have been raised to 145%, with China retaliating by imposing 125% tariffs on U.S. exports, further straining relations.
Global markets experienced significant volatility over the past week, with sharp declines and recoveries tied to Trump's erratic tariff announcements.
Consumer electronics, including smartphones and computers, have been exempted from the U.S. tariff hikes, alleviating concerns over domestic price surges.
European officials, including France's Éric Lombard, see a potential opening for dialogue but remain cautious about premature optimism as economic uncertainty persists.