WASHINGTON (AP) – In the face of the collapse of the global market, President Donald Trump suddenly fell on Wednesday for his introduction to most countries for 90 days, But it raised the rate of tax on Chinese imports to 125 %.
Treasury SecretaryScott PesinRepresentatives told Trump that Trump was stopping the “mutual” collective tariff in most of the country’s commercial partners, but maintains its introduction by 10 % on almost all global imports. Nevertheless, Trump said on social media on social media:
It seems to be an attempt to narrow what was an unprecedented trade war between the United States and most of the world to one between the United States and China.
Global markets It rose on development.
Live below: Nyse Ticker appears to a response to Trump’s ad.
This is the update of urgent news. Follow the previous AP story below.
Washington (AP) –Global economyIt appears to be in an open rebellion against the presidentDonald TrumpDefinitions as they areGo outWednesday.
Executive officials warn against aPossible stagnationBecause of his policies, some of our bestCommercial partnersAvengers with themImport taxesThe stock market is trembling after days of decline.
Trump’s tariff kickedShortly after midnight, including 104 % on products from China, 20 % in the European Union, 24 % in Japan and 25 % on South Korea. Administration officials have tried to reassure the voters, Republican legislators and executives that prices are negotiable, but by admitting that the operation may take months.
When the shrinkage appears on the horizon, investors usually gather in US Treasury notes as a safe haven, as they look at the federal government as a source of stability. Not this time. Government bond prices fell, raising the interest rate on the US Treasury note, which lasted 10 years to 4.45 % in a sign that the world is increasingly increasing from Trump’s moves.
“The market is very tense about moving away from foreign investors from the debts of the US Treasury, which sends returns to higher higher,” said Gennadi Goldberg, head of the American interest rate strategy at TD Securities. “The markets are on a larger scale, not only the treasury market, looking for signs that canceling the commercial escalation is coming. In the absence of any urgency, it will be difficult for the market to stabilize.”
The Republican President was publicly challenged with a slightly recovery of the stock market, then sold and then bounced in the morning trading. The S&P 500 stock index has decreased by more than 18 % since February 18 with the crystallization of tariff plans in Trump.
“This is a great time to buy !!!” On Wednesday, Trump posted his social media truth. “Be great! Everything will work well. The United States will be bigger and better than ever!”
Presidents often get an unjustified credit or blame for the state of the American economy because their time in the White House is subject to financial and geopolitical forces outside their direct control. But through the definitions imposed by one side, Trump has an unusual influence on the flow of trade, which creates political risks that may be difficult to avoid if his plans do not explode. After early success in the exercise of controlling American institutions, from law firms and universities to federal agencies and cultural organizations, he is now facing global markets that will not simply bend to his will.
The CEO of JPMorgan Chase and Chairman Jimmy Dimon said there would be “stagnation”, although he was also postponed to economists.
He said in an interview with “Sabah with Maria”.
In CNBC, the CEO of DeTa Air Lines Ed Bastian said the administration was less strategy than it was during the first period of Trump. In January, his company had expected that it would get the best financial year in history, only to cancel its expectations for 2025 due to economic uncertainty.
“Trying to do this at the same time has created chaos in terms of the ability to develop plans,” he said, noting that the demand for air travel has weakened.
Economists say that Trump’s return to the White House had a series of negative and successive effects that could put the country in a shrinkage.
Joe Proswell, RSM chief economist, said: “Conscience shocks on consumer morale, corporate trust, trade, financial markets, as well as prices, new orders and labor market will work to stagnate the economy in the current quarter,” said Joe Prussuelaas, RSM chief economist.
Treasury Secretary, Scott Payette, said previously that it may take months to conclude deals with countries on customs tariff prices, and the administration was not clear on whether the basic definitions were 10 % imposed on most countries will remain in place. But in the emergence of “Al -Sabah with Maria”, Pisent said that the economy “will return to fire on all cylinders” at a stage of “non -distant future”.
He said that there was a “overwhelming” response by “the countries that want to come and sit at the table instead of escalation.” Pesin mentioned Japan, South Korea and India. “I will notice that they are all over China. We have Vietnam coming today,” he said.
Even when the administration tried to calm the world, new risks are formed.
China imposed 84 % on goods from the United States. Canada now has a car tariff to suit the 25 % of Washington. The European Union has approved new taxes on American goods after a tariff of steel and aluminum by 25 % of Trump.
Trump is already calling for more customs tariffs, looking at copper chips, wood and computer. In a speech on Tuesday night, he said that taxes on imported drugs would happen soon.