Trump suspended most of the duties for 90 days, China picked up
China raised Trump’s duties to 125 percent.
Washington. US President Donald Trump With immediate effect, he suspended most reciprocal and 10 % duties for 90 days.
The pause does not concern China, those duties On the contrary, he raised from 104 to 125 percent. However, the White House chief claims that willing to agree with everyone, even with Beijing.
A sudden turnover
« Given that China does not respect global markets (…), I raise duties to China to 125 percent, » the US President wrote.
« At the same time, because of the willingness of more than 75 countries, I approved a 90-day break and a significantly reduced reciprocal duties of ten percent, both pay immediately, » Trump said.
Trump’s sudden turnaround came less than 24 hours after the new high duties from dozens of business partners came to pay.
New business obstacles shook stock markets, increased the likelihood of recession and caused a retaliation response from China.
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Trump wants to give US leaders time to negotiate with countries that have sought to reduce them, writes Reuters.
According to the agency, the notice is likely to be affected by the already established duties for cars or tariffs on steel and aluminum.
They’re waiting for a step of Beijing
After the announcement, Trump said that the United States may agree on duty with each country, including China.
The US President also said that his aim is to achieve a fair agreement. He noted that people were a little scared of duties.
Trump’s strategy paid off, said US Finance Minister Scott Bessent after the latest President’s announcement. « It was his strategy all the time, and one could even say that he pushed China into the corner, » he added.
According to him, the decision of Trump is proof that the US wants to negotiate in good faith. According to Bessent, states that did not respond to US import fees will be rewarded. « We’ll see what China will do, » he said.
The customs dispute between Washington and Beijing would not call Bessent a trade war, but said that China had escalated the situation.
According to Bessent, the United States now assumes that it will proceed to the interviews and that the pause will provide time for negotiations. « We expect countries to come to us with the best offers, » he said.
The US Finance Minister added that Trump wants to leave the basic 10 % tariff for most countries.
World stock exchanges were again moving
World stock exchanges respond to the report. The main indexes strengthened sharply on Wednesday.
The S&P 500 stock index increased by 9.52 percent to 5456.90, recording the most significant one -day increase since 2008.
The Dow Jones Index, which includes the shares of thirty leading US companies, scored 7.87 percent and finished trading to 40,608.45 points.
The Nasdaq Composite index, which is represented by many companies from the advanced technology industry, has even increased by 12.16 percent to 17,1207 points. This recorded the second most crucial one -day increase in its history.
For example, the shares of Apple and Nvidia technology companies were significantly strengthened.
On the foreign exchange market, the US dollar after Trump’s announcement deleted his initial losses and strengthened.
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Around 22: 00 CEST euro against the dollar showed a decline of about a quarter of a percent and was close to $ 1.0930. During the day, the unified European currency climbed to $ 1.1095.
After five days of reduction, oil prices, which got to a four -year minimum, began to rise.
Brent scored 1.6 percent around 19:45 CEST and was around $ 63.80 per barrel, previously its price fell briefly to $ 59.77, the lowest since February 2021.
At the same time, American light oil WTI showed an increase of 1.7 percent to $ 60.60 per barrel.
Oil prices have fallen from the moment Trump announced the so -called reciprocal duties.
High customs fees could withdraw the economy into the recession, which would undermine demand, among other things, after fuel.
The chances of a quick deal are small
In response to reciprocal duties, China has introduced retaliatory measures and Trump subsequently approved a further increase in duties to Chinese goods, totaling up to 104 percent.
Beijing announced that China would not be submitted, and he called Washington a blackmail. Trump then increased his duties to 125 percent.
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Analysts say that the vigorous retaliatory measures of China reduce the chances of a rapid agreement between the two world’s largest economies. This is increasing concerns about economic recession around the world, Reuters said.
The decline in oil prices was originally deepened by the decision of the OPEC+ Group+ in May of oil production by 411,000 barrels a day. According to analysts, this will cause surplus oil on the market.
OPEC+ includes the organization of oil -exporting countries (OPEC) and its allies headed by Russia.
