Trump temporarily reduces the customs tariff for most countries, raises it for China

US President Donald Trump said on Wednesday that he would temporarily reduce a new tariff for many countries, even when he raised them more than imports from China, in a sudden reflection that he sent the US shares sharply.

Trump’s advertisement came less than 24 hours after the sharp new definitions kicked on imports from dozens of commercial partners. The new commercial barriers led to the fall of the markets, sparked the chances of stagnation and prompted retaliatory responses from China and the European Union.

Trump said he would raise the tariffs on Chinese imports to 125 % of the 104 % level that entered the middle of the night, rising in the face of high risk among the world’s largest economists.

Trump said that he would at the same time suspend the targeted targets on other 90 -day countries to provide time for US officials to negotiate with the countries that sought to reduce them.

The White House said that the abdominal duty is 10 % on almost all American imports will remain in place. The advertisement does not seem to affect the duties of cars, steel and aluminum already.

The US indicators in the United States increased on the news, as the standard S&P 500 increased by more than 6 %. The bond returns came out earlier and the dollar bounce against safe currencies.

Goldman Sachs reduced the possibility of the recession to 45 % after Trump’s move, a decrease from 65 %, saying that the definitions that remained in place are still likely to lead to a 15 % increase in the customs tariff rate.

Since his return to the White House in January, Trump has repeatedly threatened with a set of punitive measures on commercial partners, only to cancel some of them at the last minute. The approach that was out of work led to world leaders and business executives, who say that uncertainty has made it difficult to predict market conditions.

“Trump is now gaining a reputation in order to get rid of the customs tariff and the lack of consistent economic policy,” said Marcus Brooks.

US Treasury Secretary Scott Payette said that the administration needs time to negotiate with more than 75 countries that have continued and indicated that Trump used the definitions to create “the maximum negotiation of negotiation for itself.”

“This was his strategy all the time,” he told reporters at the White House. “She may even have left China in a bad situation. They answered. They showed themselves to the world to be the bad actor.”

Bessent is a person’s point in negotiations for every country that can address external aid and military cooperation as well as economic issues. Trump spoke with the leaders of Japan and South Korea, and a delegation from Vietnam was scheduled to meet with US officials on Wednesday.

BESSENT refused to specify the time the negotiations may take.

Trump’s advertisement seemed to surprise the American commercial actor, Jameson Jarir, who was witnessing in the Capitol Hill. He told the legislators: “I understand that it has lasted 90 days, and I did not speak to the president.”

“It seems that your boss has pulled the carpet from under it and stopped the customs tariffs and taxes on the American people. There is no strategy,” said Stephen Horford, a democratic actor.

Subjects
China