US President Donald Trump announced that the reciprocal tax reduction was 10%, postponed 90 days but with only some “non -retaliating” countries, and China was increased tax to 125%.
Mr. Trump issued this announcement on April 9 (US time), about half a day afterreciprocal taxHe initiated 180 valid trading partners and after about 6 hours China announced that the taxpayer to US goods was 84% to respond.
In Truth’s social network, the US President announced an increase in tariffs with China to 125% immediately by “the country’s disrespect to the global market”.
In the opposite direction, the US president also announced a 90 -day reciprocal taxposition and reduced this tax to 10% with other economies.
He made this decision because more than 75 countries contacted US officials to negotiate trade agreements. “These countries have not retaliated, in accordance with my proposal,” Mr. Trump wrote.
TheoNBC News, The White House said it would not publish the list of countries that contacted tariff negotiations.
Less than an hour later, President Donald Trump also appeared in front of the White House to explain to the press to postpone tax. When asked about calling for calm in the morning and then postponing the tax just a few hours later, he said that “everyone reacted too much”.
“Everything has not ended, but we feel the spirit of great cooperation from other countries, including China. They want to reach an agreement, but just do not know where to start,” Trump shared.
A reporter asked, in the next 90 days, Mr. Trump considered tax exemption for American companies, especially those who have been heavily affected in the past few days. The US president said “will consider”, “can be flexible”. He said that some were actually seriously affected but not their faults, but because of their active areas.
US Trade Secretary Howard Lutnick also posted on social networks that he and Minister of Finance Scott Bessent witnessed President Trump wrote the post on Truth. Lutnick called this one of the most special posts in Mr. Trump’s term.
Meanwhile, Minister Bessent said that this tax postponement was not by the market reaction. Talking to reporters outside the White House, the Minister of Finance explained that this move will help more time to negotiate and predict more countries to contact the United States.
US Finance Secretary Scott Bessent responded to the press outside the White House after the 90 -day tax postponement announced Mr. Trump on April 9. Image:Reuters
Bessent added that Mr. Trump wanted to directly participate in tariff negotiations. “Each will take place separately, designed for each country,” the US Finance Minister said.
After Trump’s tax postponement notice, the US stock marketimmediately soared. Closing the session on April 9, the key indicators of the US Securities such as S&P 500, DJIA and Nasdaq Composite both increased sharply.
US stocks skyrocketed as soon as Trump announced the tax postponement. Graph:Reuters
Jake Colvin, Chairman of the National Foreign Trade Council, evaluated the suspension of taxes is the right step, somewhat reducing the impact immediately, but do not rush to celebrate. The reason is that the new tax rate of 10% for most countries remains the same with high taxes on Chinese goods, steel, aluminum, car items and will have higher taxes in the future.
Reciprocal taxApplicable to major US trading partners, according to Mr. Trump’s initial announcement, effective from 9/4 with a tax rate of 11-84%. This policy has made the world wobble for the past week. The US, Asian and European stock markets plummeted for several consecutive sessions because of the risk of inflation and recession. World gold price made a new peak, then was sold out. A series of world leaders spoke out, saying that this tax was unreasonable.
