Global Markets Rally as Trump Hits Pause on Tariffs—But China Faces Steep Hike
Global markets are breathing easier after President Donald Trump announced a 90-day suspension on a wave of sweeping tariffs unveiled just last week. In a message posted on April 9 via his Truth Social account, the U.S. President revealed that over 75 countries have reached out to American officials in a bid to strike trade deals.
Citing this international outreach as a sign of goodwill, Trump stated that he would delay the planned tariffs for these nations. But not everyone is off the hook.
Targeting China directly, Trump said Beijing has shown “a lack of respect” toward global markets and Washington’s efforts—prompting him to raise the already staggering 104% tariff on Chinese imports to an unprecedented 125%, effective immediately.
“Based on the lack of respect that China has shown to the World’s Markets,” Trump wrote, “I am hereby raising the Tariff charged to China by the United States of America to 125%.”
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In a fiery follow-up on Truth Social, President Trump doubled down on his hardline stance against China while extending an olive branch to dozens of other nations.
“At some point—hopefully soon—China will realize that the days of exploiting the United States and other countries are over,” Trump declared.
He went on to explain that more than 75 nations have contacted U.S. officials—including the Departments of Commerce, Treasury, and the U.S. Trade Representative—seeking to resolve issues related to trade barriers, tariffs, currency manipulation, and other economic concerns.
“These countries, following my strong recommendation, have not retaliated against the United States in any form,” Trump wrote. “In response, I’ve authorized a 90-day PAUSE and a significantly reduced 10% reciprocal tariff during this period, effective immediately.”
He ended his message with a sharp sign-off: “Thank you for your attention to this matter!”
US Treasury Clarifies Tariff Plan: “Door Open to All Nations”—Except China
Echoing President Trump’s announcement, U.S. Treasury Secretary Scott Bessent offered further clarity during a press briefing, reinforcing the administration’s hardline stance against China while keeping diplomatic channels open for others.
“We’re willing to hear from every country in the world that wants to negotiate,” Bessent stated. “For those who engage in good faith, we’re dropping to a 10% baseline tariff.”
But the tone shifted when addressing China. “China will be raised to 125% due to their continued insistence on escalating tensions,” he said.
The message is clear: allies willing to talk will get a seat at the table—while China faces a steep price for defiance.
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Wall Street Surges After Trump’s Tariff Pause—Nasdaq Soars Over 8%
Markets wasted no time reacting to President Trump’s surprise 90-day tariff pause. As of 6:26 PM, Wall Street’s major indexes staged a dramatic rebound:
- Dow Jones jumped 5.76%
- S&P 500 surged 6.46%
- Nasdaq skyrocketed 8.04%
The rally followed a bold message from Trump on Truth Social just hours before the pause was announced:
“THIS IS A GREAT TIME TO BUY!!!” he posted. “BE COOL! Everything is going to work out well. The USA will be bigger and better than ever before!”
Investors appeared to take him at his word—at least for now.