California — In a dramatic about-face that stunned global markets, President Donald Trump announced a 90-day pause on most newly imposed import tariffs Wednesday, sending the Dow Jones surging by over 2,700 points. The move comes amid mounting market pressure and growing unrest among U.S. business leaders and political allies.
While most countries received temporary relief from Trump’s sweeping “Liberation Day” tariffs, China remains the outlier. In a retaliatory escalation, Trump raised tariffs on Chinese imports from 104% to a staggering 125%, accusing Beijing of exploiting global trade for decades.
“China’s disregard for global markets is no longer acceptable,” Trump declared on Truth Social. “We will no longer be taken advantage of.”
At the same time, a 10% baseline tariff will remain in place during the 90-day period for other countries, signaling Trump’s intent to keep pressure on trade partners while calming jittery markets.
Treasury Secretary Scott Bessent claimed this was part of Trump’s long-term strategy. “It took great courage to stay the course,” he told reporters, highlighting that 75 nations have reached out for negotiations.
Business leaders welcomed the reprieve. “The timing couldn’t be better,” said Gina Bolvin of Bolvin Wealth Management. “It gives markets a clearer backdrop as earnings season begins.”
Still, skepticism remains. Federal Reserve minutes warned of rising inflation and job risks, while CEOs like JPMorgan’s Jamie Dimon cautioned that recession risks persist.
Trump’s tariff gamble may have won Wall Street a breather — but global economic uncertainty is far from over.
Disclaimer: The news articles published on Growing Pro Technologies are based on reports from reputable third-party sources and are not original reporting by Growing Pro Technologies. While we strive to ensure accuracy and integrity, we cannot guarantee the completeness or timeliness of the information provided.
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