After Market Meltdown, Trump Announces He’ll Pause Tariffs For 90-Day For Every Country Except China

On Wednesday afternoon, President Donald Trump revealed on Truth Social that he would institute a 90-day pause on his new tariffs against every country except China.

On April 2, Trump announced tariffs on all imports. These tariffs include a minimum baseline tax of 10% on all trading partners and additional levies on specific countries like China and EU members.

In the past week, the U.S. stock market has fallen thousands of points. Since Trump was inaugurated as president, the stock spiral has wiped out $11.1 trillion in value.

Trump announced on Wednesday afternoon: “Based on the lack of respect that China has shown to the World’s Markets, I am hereby raising the Tariff charged to China by the United States of America to 125%, effective immediately.”

“At some point, hopefully in the near future, China will realize that the days of ripping off the U.S.A., and other Countries, is no longer sustainable or acceptable.

“Conversely, and based on the fact that more than 75 Countries have called Representatives of the United States, including the Departments of Commerce, Treasury, and the USTR, to negotiate a solution to the subjects being discussed relative to Trade, Trade Barriers, Tariffs, Currency Manipulation, and Non Monetary Tariffs, and that these Countries have not, at my strong suggestion, retaliated in any way, shape, or form against the United States, I have authorized a 90 day PAUSE, and a substantially lowered Reciprocal Tariff during this period, of 10%, also effective immediately. Thank you for your attention to this matter!”

He made this announcement after his latest round of tariffs went into effect after midnight.

Treasury Secretary Scott Bessent stated that separate tariffs on imported autos, steel and aluminum would remain in place. He also noted that planned “sectoral” tariffs on items such as lumber and pharmaceuticals are currently moving forward.

Five trillion dollars of these stocks were wiped out between April 2 and April 4, the biggest two-day loss on record. This loss continued on Monday. In pre-market trading on April 7, the S&P 500 was down nearly 3% after shares fell 13% in Hong Kong, 10% in Taiwan, and 7% in China.

Stocks dropped because of investor fear provoked by the president’s much bigger-than-expected tariffs and a spike in skepticism.