- Trump said the decision made after the countries asked to negotiate.
- Increases the price on Chinese imports to 125% compared to 104%.
- The American president accuses China of “tearing up” his country.
US President Donald Trump suddenly fell back on Wednesday in his World War of Commerce, imposing a 90 -day break for most countries, but sorting out even more samples against China in what has become a large -scale confrontation between the two biggest economies in the world.
After the days of global market disorders, Wall Street’s actions increased in reaction to Trump’s announcement.
Trump declared on his social network of truth: “I authorized a 90 -day break” on higher rates that took vigor on Wednesday. He said he had decided after more than 75 countries contacted to negotiate and had not retaliated against the United States.
Only a lump sum rate of 10% prices on all countries that have entered into force on Saturday will remain in place. This has marked an astonishing reverse of often punishing withdrawals that even strike many of the nearest American allies.
But Trump accused China of “tearing up” his country.
“Based on the lack of respect that China has shown in the world markets, I increased by this the price charged in China by the United States of America at 125%, to count immediately,” said Trump.
Trump only brought the hours earlier in chinese products at 104% giant Chinese products. China then retaliated by the increase in prices on 84%American imports.
“At one point, let’s hope, in the near future, China will realize that the days of tear in the United States. And other countries, is no longer sustainable or acceptable,” said Trump.
“Be cool!”
The European Union had previously launched its own counterattack, announcing measures targeting certain American products on Tuesday in retaliation for American tasks on world steel and aluminum exports.
The block of 27 countries, which Trump has accused of being created to “kiss” the United States, will reach more than 20 billion euros in American products, including soy, motorcycles and beauty products.
But the EU not in particular retaliated against the 20% American prices which entered into force a minute after midnight on Wednesday.
Trump announced a week ago on what he called the “Liberation Day” that he would impose a reference rate of 10% on all countries that came into force on Saturday, with additional prices for savings such as China and the EU with a large trade surplus with the United States that entered into force on Wednesday.
The markets were swirling last week, Trump urged Americans earlier on Wednesday to “be cool!” And said that “everything will work well”
Wall Street’s actions exploded on Wednesday after Trump’s break.
A few minutes after Trump unveiled, the S&P 500 increased by 6.0% more to 5,281.44, which took a brutal series of losses during last week.
The European and Asian stock markets had already dropped with oil and the dollar while the confrontation intensified.
American bond yields had also increased in the middle of a high sale – a major economic red light, because sovereign public debt is normally considered as a safe refuge for investors in troubled times.
‘Rush to negotiate’
Before his pivot, Trump said the world leaders rushed to negotiate “tailor-made” agreements with the United States, Japan and South Korea among those who send delegations to Washington.
“I tell you, these countries are calling us,” Trump told a dinner with his republican colleagues on Tuesday evening.
But China has doubled.
“The climbing of prices against China by the United States simply drives errors in addition to errors,” said the Chinese finance ministry.
The American secretary of the Treasury, Scott Bessent, warned the countries previously warned a banking summit on Wednesday that the alignment with Beijing “would cut your own throat”.
Trump believes that his policy will revive the lost American manufacturing base by forcing businesses to move to the United States.
The former billionaire property tycoon has particularly raged against China, accusing it of excess of production and “spill” of inexpensive goods on other economies.
China warned tourists on Wednesday “to fully assess the risks” before going to the United States.
And the United States Secretary for Defense, Pete Hegseth, then warned of Chinese “threats” when he visited Panama, whose channel is at the center of a row between Beijing and Washington.