President Trump on Wednesday jacked up tariffs on China to 125 percent and implemented a 90-day pause on his previously announced tariffs against all other trading partners, causing a major surge in the markets.
“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,” he wrote on Truth Social.
Trump’s decision to pause the higher tariffs that he announced last week — which hit about 60 countries Wednesday morning — caused an immediate market surge.
Moments after his social media post, the Dow Jones Industrial Average rose by 2,000 points after days of major losses on Wall Street.
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