United States of America President Donald Trump has explained that he announced a 90-day pause to global tariffs because people were becoming fearful. He disclosed this on Wednesday while addressing questions outside the White House after announcing the tariff pause.
Trump said, “Well, I thought that people were jumping a little bit out of line; they were getting yippy, you know, they were getting a little bit yippy—a little bit afraid.”
Newspot reports that Trump dramatically reversed course, reducing his country-specific tariffs to a universal 10 per cent rate for all trade partners except China. Trump announced that China’s tariff rate would jump to 125 per cent, effective immediately.
This comes as Beijing refused to back down and announced an 84 per cent tariff rate on U.S. goods, effective April 10. Earlier on Wednesday, the European Union had approved retaliatory tariffs on U.S. imports before Trump’s decision to suspend the tariff.
Immediately, Reuters reports that US stocks surged on Wednesday.
It is recalled that on April 2, 2025, Trump announced sweeping tariffs on imports into the US from all countries.
