United States President Donald Trump has had an extremely busy couple of weeks. Last week, Trump announced over 75 tariffs on foreign countries before jetting to Florida for golf.
Unfortunately, while Trump was enjoying his golf outing, the United States and global economies plunged on account of his tariff announcement. At first, Trump stood firm by his tariffs, but after increasing pressure from economists, his constituents, and even his fellow Republicans, Trump has caved and folded.
“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!” Trump wrote on his Truth Social platform.
People reacted to the tariff pause on social media.
“75 countries came to the table to negotiate tariffs and trade deficits. NOTHING was done by the Biden administration in the interest of American exporters. How do you NOT call that a win?” one person wrote on Twitter.
“Not nothing. I’m sure Trump and his buddies all made a fortune from this stunt,” someone else added.
“The billionaires have been buying up stock like candy all week. Now they’re going to sell it for a quick turnaround. When they’ve made their money, the cycle will begin again,” another person wrote.
It’ll be interesting to see what happens when the 90-day pause ends.
