The president of the USA, Donald Trumpannounced Wednesday that It will temporarily reduce the new tariffs to many countries, although it increased them even more for Chinese imports, in a sudden change of course that He abruptly raised US actions.
Trump’s announcement did Less than 24 hours after the entry into force of the new tariffs on imports of dozens of commercial partners. The new commercial barriers come from hitting the markets, increasing the chances of recession and causing reprisals of China and the European Union.
Trump announced that It will raise the tariff to Chinese imports to 125%, from 104% in force from midnight, scaling even more a high -risk confrontation between the two largest economies in the world.
At the same time, the president said that It will suspend specific tariffs over other countries for 90 days to give time to US officials negotiating with countries that have communicated with them to try to reduce them.
The White House indicated that A 10% general tariff to almost all imports from the United States will remain in force. The announcement Nor does it seem to affect the levies on cars, steel and aluminum that are already in force.
The US stock market indices shot up after the news and the referential S&P 500 shot. The yield of the treasure bonds retreated from their previous maximums and the dollar rebounded in front of the refuge currencies.
In a public publication, Trump announced that will “immediately” the US tariffs about 125% Chinese imports “Due to the lack of respect that China demonstrated towards world markets.”
However, in the same message, the head of the White House said “Authorized a 90 -day pause” For other countries, pointing out that More than 75 nations communicated to start negotiations. That porridge, along with “a substantially reduced 10% reciprocal tariff during this period”, they come into force “immediately,” Trump wrote.
Trump’s pause and market rise
Hours ago, the US president had expressed that “These countries are calling us. They are kissing my butt. They die to reach an agreement”Trump said before the Republican Committee.
After knowing the news of the postponement of tariffs, the actions of Wall Street shot up: The S&P 500 rose more than 9%breaking a brutal loss streak from the Trump tariffs the “Liberation Day” last week.
Trump wielded his commercial war to the Announce 10% of tariffs for almost all countries in the world, more additional levies for some nations and commercial blocks, such as the European Union (EU)whose total rate amounts to 20 %.
10% tariffs entered into force last Saturday and additional this Wednesday.
Source: Ambito
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