FLASH
Shkruar nga Pamfleti
In a significant concession from the US president, he said he would delay his higher tariffs on countries that had not retaliated, but would raise tariffs on China to 125% immediately….
US President Donald Trump has announced a 90-day pause on his higher "reciprocal" tariffs, even as he escalates his trade war with China.
In a significant concession from the US president, he said he would delay his higher tariffs on countries that had not retaliated, but would raise tariffs on China to 125% immediately.
It comes just days after Wall Street billionaire Bill Ackman urged the President to "call a 90-day recess" on making trade deals or risk a "self-induced nuclear economic winter."
On his "Social Truth" platform, Trump says that "based on the lack of respect that China has shown to world markets, I am increasing the tariff imposed on China by the United States of America to 125%, effective immediately."
"Based on China's disrespect for global markets, I am increasing the tariff imposed on China by the United States to 125%, effective immediately.
"At some point, hopefully in the near future, China will realize that the days of tearing down the US and other countries are no longer acceptable," he said.
He added that because over 75 countries want to negotiate deals with the US, he had "authorized a 90-day pause and a significantly reduced reciprocal tariff during this period, of 10%, also effective immediately."
The White House has confirmed Donald Trump's statement announcing a 125% tariff on China and a 90-day pause and 10% tariff reduction for other countries, effective immediately.
White House press secretary Caroline Leavitt said Trump had increased tariffs against China because "when you punch the United States of America, President Trump will respond more strongly."
She also said that the US will continue with tailored negotiations and that the tariff level will be reduced to a universal 10% during the negotiations.
Following the announcement, Wall Street rose, with the S&P 500 up 7.5 percent and the Nasdaq up 9.6 percent.
A few hours earlier, Trump had urged investors to buy stocks.
"This is a great time to buy!!!" Trump said on Truth Social, his social media page.
"Everything will work out fine. The USA will be bigger and better than ever before!" he emphasized.
It comes on a day of escalating tensions between the US and China. China announced an increase in tariffs on US imports to 84 per cent from 34 per cent, shortly after Mr Trump's punitive 104 per cent tariffs on Chinese imports took effect this morning. /Adapted from Pamphlet/
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