 "'Do not retaliate, you will be rewarded': White House warns amid Trump's pause and punish move")
US President Donald Trump has paused his sweeping reciprocal tariffs by announcing a 90-day freeze for all countries except China, which were announced by him on ‘Liberation Day.’
While most nations received temporary relief, Trump imposed a steep 125 per cent tariff on all Chinese imports. In response, China hit back with 84 per cent tariffs on US goods, further escalating the trade war between the world’s two largest economies.
The White House also warned other countries not to retaliate against the imposed tariffs, saying: “Do not retaliate and you will be rewarded.”
Donald Trump said he paused the imposition of higher tariffs on many countries because people “were getting a little bit yippy.” He said, “Well, I thought that people were jumping a little bit out of line. They were getting yippy, you know, they were getting a little bit yippy, a little bit afraid—unlike these champions—because we have a big job to do."
Meanwhile, China stood firm against US pressure, and its 84 per cent tariffs on American imports took effect at 12:01 pm on Thursday, according to Chinese state news agency Xinhua.
Before the new tariffs were enforced, China’s Commerce Minister said the US’s “reciprocal tariffs” were a serious violation of the rights of all countries.
According to a report by Xinhua, a ministry official warned that no one wins in a trade war.
“China doesn’t want a trade war,” the official said on Wednesday, “but we won’t stay silent if the rights and interests of our people are being harmed.”
Impact Shorts
More ShortsTrump’s Liberation Day tariffs and crash in markets
Less than a day after imposing heavy new tariffs on most US trading partners, President Donald Trump reversed course.
His sudden change came after global markets experienced their worst volatility since the start of the COVID-19 pandemic—wiping out trillions of dollars from stock markets and pushing US bond yields sharply higher. The financial chaos appeared to grab Trump’s attention.
“I thought people were overreacting, getting a bit too jumpy—you know, like in golf,” Trump told reporters after the announcement.
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