WASHINGTON, D.C. – April 9, 2025 — Former U.S. President Donald Trump announced a 90-day pause on the enforcement of new reciprocal tariffs, setting a temporary minimum rate of 10 percent for up to 75 countries currently engaged in trade negotiations with the United States.
The announcement, made on Trump's social media platform Truth Social, is part of a broader effort to give nations more time to renegotiate tariff structures initially introduced on April 2.
"I have authorized a 90-day PAUSE, and a substantially lowered Reciprocal Tariff during this period, of 10 percent, also effective immediately," Trump said.
Treasury Secretary Scott Bessent later clarified the policy, stating in an interview with CNBC that all countries except China will revert to the 10% baseline rate during the negotiation window.
"I think now the market understands that everything they saw last Wednesday (April 2) was a ceiling, and now we have a 10% temporary floor," Bessent said.
At the same time, Trump escalated tariffs on China, citing Beijing's refusal to reverse its own retaliatory measures. The so-called "stacked tariffs" on Chinese imports have now reached a combined 125 percent.
Meanwhile, China has filed a formal complaint with the World Trade Organization (WTO) over the latest U.S. tariff increases. A spokesperson for China’s Ministry of Commerce said the U.S. actions “seriously violate WTO rules” and accused Washington of engaging in unilateral and bullying behavior.
"China will firmly defend its legitimate rights and interests in accordance with WTO rules," the official stated.
The ongoing tariff battle has already had a significant impact on U.S. financial markets. Since the original tariff announcement on April 2, the Dow Jones Industrial Average dropped more than 4,500 points, the S&P 500 fell 12 percent, and the NASDAQ Composite declined by 13 percent.
However, markets reacted positively to today's tariff pause. As of market close:
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The Dow Jones Industrial Average was up 6.95%
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The S&P 500 rose 8.5%
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The NASDAQ Composite jumped 10.35%
This developing story highlights ongoing volatility in global trade relations and financial markets as negotiations continue between the U.S. and key global partners.
VietnamSteel by Hoa Sen Group
