Washington (AP) -Face the collapse of the global market Donald Trump Even though I raised additional taxes on Wednesday Chinese imports are 125%.
Most of the world and most of the world were attempted to narrow the unprecedented trade war with the confrontation between the United States and China. After the announcement, the S & P 500 stock index increased by 9.5%, but the drama about Trump’s tariffs did not end as the administration prepared to participate in the negotiations of each country. In the meantime, pause countries are now tariffs at 10%.
The president claimed that his reversal was always planned, but the president stopped for a while when Trump faced intense pressure generated by volatile financial markets, which had been pushing for Trump to reconsider tariffs.
As stocks and bonds sold out, voters were reducing retirement savings, and businesses warned that they were worse than expected sales and prices, and all of last year’s promise to fight with inflation and warned all of the junk punches to the country that returned Trump to the White House.
that World economy It seemed to rebel against an open rebellion. Trump Target like them It was fermented Wednesday, the US president was not immunized from market pressure. Early afternoon, Trump said that more than 75 countries contacted the US government for trade negotiations and did not retaliate in a meaningful way in the truth society, “90 days of suspension of suspension and 10%of mutual tariffs were actually lowered during this period.”
Trump later told reporters that people withdrew many world tariffs because they were “feared” with “Yippy” and “fear” due to the decline in the stock market. He expected to reach a deal, but added, “It’s not over yet.”
AP Audio: Trump pauses tariffs for 90 days in most countries and raises taxes on imports of China.
Senator Chuck Schumer says President Trump is not doing what voters want.
The president said he was monitoring the bond market, and the interest rate rises due to the decline in bond prices and the interest rate rises due to the lack of investors’ trust in Trump’s previous tariff plan.
Trump said, “The bond market is very demanding.” I was looking at it. But if you see it now, it is beautiful. “
The president later said that he has been thinking about the suspension of tariffs for the last few days, but he said, “We gathered together early this morning and early this morning.”
Trump asked why the White House advisers insisted for several weeks that tariffs were not part of negotiations.
10% tariffs were the basic rates of most countries that came into effect on Saturday. It was significantly lower than the 20%tariff that Trump set up a product of the European Union, 24%of Japan’s imports and 25%of Korean products. Nevertheless, 10%show an increase in tariffs that the US government has previously imposed. Canada and Mexico will have about 25% of tariffs due to Trump’s separate instructions to prevent pentanil smuggling.
Scott Bessent’s finance minister said that negotiations with individual countries will be “customized.” In other words, in the next 90 days, there is a need for dialogue on the confusion of potential transactions. Bessent, a former hedge fund manager, told reporters that the suspension was stopped by other countries that pursued talks rather than the cruel sale in the financial market.
“The only certainty we can provide is that the United States will negotiate with good faith, and we will do allies.
The Financial Secretary said that he and Trump said, “I had a long conversation on Sunday, and this was his strategy.”
Howard Rootnick, the Minister of Commerce Lutnick, later seemed to contradict the president’s account by saying that Trump later, not a market for pause tariffs, triggered the decision by other countries.
The business executive before the reversal Potential economic downturn Because of his policy, some of us are part of us. Trading partner They were retaliating with themselves Import tax And the stock market was trembling a few days later.
Carolin Levitz, the White House reporter, said the walk is part of Trump’s negotiation strategy.
She said, “I haven’t seen Trump’s work here, and you tried to say that other parts of the world would be close to China.
The NGOZI OKONJO-IWEALA World Trade Organization (NGOZI OKONJO-IWEALA) has warned the trade war between the United States and China, “the global economic outlook can be seriously damaged.”
The confusion of the market has been built a few weeks ago than Trump’s movement, and sometimes the president suggested that the income tax would remain in place.
Particularly worried was that the US government debt lost its glossy with investors who handled the Treasury Note as a safe refuge when there was economic turbulence. The price of government bonds has fallen, raising the interest rate of the US Treasury to 4.45%. After Trump’s reversal, the ratio has been relaxed.
Gennadiy Goldberg, head of the US fare strategy at TD Securities, said before it announced that the market wanted to see a ceasefire in trade disputes.
“Not only the financial market, but also the market is looking for a signal that trade escape is approaching,” he said. “Without escape, the market will be difficult to stabilize.”
John Canavan, chief analyst of Oxford Economic Consultant, said Trump changed the course due to negotiations, but the tariff would remain the same.
Canavan said, “There was a very mixed message about whether there would be negotiations.” Given what is happening in the market, he realized that the safest thing was negotiating and pause. “
The same characteristics of Wednesday will be seen in social media posts. Bill ACKMANHedge Fund billionaire and Trump supporters.
ACKMAN posted on X. “The return on bonds is increasing and the dollar is decreasing. This is not a marker of successful policy.”
ACKMAN repeated 90 days of suspension in the post. When Trump accepted the idea a few hours later, Ebullient Ackman said Trump “executed his plan” and wrote Trump’s plan as “textbook, art of the deal”. Bestseller 1987 Book.
The president is subject to excessive credit or criticism of the US economic state because time in the White House is the subject of finance and designated forces that go beyond direct control.
However, by unilaterally imposing tariffs, Trump had a special effect on the flow of commerce, causing political danger and attracting the market in a different direction, depending on his remarks and social media posts. Customs to cars, steel and aluminum are 25%, and more income, including pharmaceuticals, will be set in the next few weeks.
Targets in recent weeks have been damaged by both business and individuals.
In CNBC, Delta Air Lines CEO ED BASTIAN said the administration was not strategic than Trump’s first term. His company expects to have the best fiscal year in history in January, and he scraped expectations for 2025 due to economic uncertainty.
“At the same time, there is a confusion in that you can plan if you try everything,” he pointed out that the demand for aviation travel has weakened.
Prior to Trump’s reversal, economic predictors said that his second term could make the state a downturn with a series of negative staircase influence.
Joe Brusuelas, the chief economist of consulting RSM, said, “In addition to consumer sentiment, corporate trust, trade, and financial markets, prices, new orders and labor markets will be a recession in this quarter.
Bessent said it could take several months to sign a contract with the state. But on Wednesday morning, Bessent, who appeared on “Morian Morning with Mary,” said at some point, “It’s not too far a future.”
He said, “There is an overwhelming” reaction by “a country that wants to come to the table rather than escalation.” Bessent mentioned Japan, Korea and India. “I will pay attention to the fact that they are around China. We are coming to Vietnam today,” he said.
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AP Communication Writer Michelle L. PRICE contributed to this report.
