After days of watching the stock market crash again and again, members of his own party began to revolt, and after an outcry from businesses of all types, President Donald Trump announced a 90-day pause on the global tariffs he revealed last week. Find out why at Headlight.News.
While Trump halted tariffs on everyone else, China and automakers are still paying levies.
Trump put a pin in the levies against nearly all 180 countries. Only China, which responded to Trump’s tariffs with a new 84% tariff on American goods and the 25% tariff on automobiles and auto parts continue to pay levies.
“They were getting a little bit yippy, a little bit afraid,” he said Wednesday, referring to the market unrest that followed the “Liberation Day” announcement last week. He also noted China’s tariffs have been raised to 125%, saying the country has shown the U.S. a “lack of respect.”
The president said he’d been mulling the move for the past few days as he watched the stock market fall by thousands of points. The markets have rallied today on the news, but haven’t yet made up the losses incurred. The S&P 500 closed up 9.5% after the announcement while the larger Dow Jones Industrial Average gained 2,942.91, an increase of 7.82%, closing at 40,588.50.
Headlight.News will offer an in-depth story on the changes and how they’ll impact the automotive industry and consumers overnight.
Smells like market manipulation to me..