Jimmy addresses the latest news, like the stock market skyrocketing after Trump announced a 90-day pause on his new tariffs, Trump trying to ease Americans’ …
Day: April 9, 2025
The European Union will launch its first countermeasures against U.S. President Donald Trump’s tariffs next week, the bloc’s members agreed on Wednesday, joining China and Canada in retaliating and escalating a global trade conflict. https://t.co/urcRW1BU6j pic.twitter.com/tBdlltaCya
— Reuters (@Reuters) April 10, 2025
Chinese foreign ministry holds its daily news conference. Seeking comments as China’s “reciprocal” duties on U.S. tariffs is expected to come into effect.
In a major development, US President Donald Trump announced on April 9 a 90-day ‘pause’ on reciprocal tariffs for all but China. Trump’s sudden announcement pulled the world back just in time from the brink of an all-out, full-on trade war, and financial markets from the edge of a deepening abyss.
His sudden backtracking came less than 24 hours after sharp new tariffs kicked in on imports from multiple trade partners.
Trump said he was “authorising a 90-day pause as part of his tariff plan, but was also raising the tariff rate for China to 125%”, effective immediately.
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