In a move that flipped global markets on their heads, Donald Trump threw a surprise curveball this week: a 90-day tariff pause for most countries.
But China? They got hit even harder.
Just days after vowing not to back down, Trump blinked — sort of.
“People were getting yippy,” he shrugged, explaining the sudden U-turn.
The new deal? Countries that didn’t retaliate get a breather with a flat 10% tariff until July.
Meanwhile, China’s rate skyrocketed to a whopping 125%, up from an already punishing 104%.
Markets Cheered The Pause
The S&P 500 shot up 9.5%, the Dow jumped 7.9%.
Trump, ever the showman, called the bond market “beautiful” after the rebound.
But behind the scenes, tensions are boiling.
“China keeps ripping us off,” Trump declared, doubling down on his hardline stance.
Beijing wasn’t having it — they fired back with their own tariffs and a stern warning to tourists headed to the U.S.
Treasury Secretary Scott Bessent warned nations cozying up to China they were “cutting their own throat.” So, what now?
The world watches, markets tremble, and Trump says deals are coming.
But for now? The global trade war has a brief timeout — unless you’re China. Then it’s game on.
