President Trump Suspends Additional Tariffs for 90 Days on Most Countries But Imposes Higher Tariffs on China

The trade situation between Pakistan and the US has become tense after President Trump added a 29% tariff on goods coming from Pakistan. This means Pakistani exports to the US will now face a total 39% tax (10% old + 29% new).

Experts like Dr. Sohail say there’s no need to panic. Instead, Pakistan should talk to the US in a positive and respectful way. He also said that Pakistan needs to improve its industries and make them more competitive and eco-friendly to grow in the future.

Prime Minister Shehbaz Sharif has already formed a 12-member committee to handle the issue, and a team will be sent to Washington to discuss Pakistan’s side.

U.S. President Donald Trump has temporarily suspended the imposition of additional tariffs for 90 days on most countries that have not imposed retaliatory tariffs on the United States. However, a 125% tariff on Chinese imports has been enforced immediately.

According to a statement from the White House, the existing 10% duty on imports will remain in effect and is not part of the suspension. It also clarified that the 90-day relief does not apply to tariffs on automobiles, steel, or aluminum, which will continue as previously announced.

U.S.-China Trade Tensions Rise – More U.S. Firms Sanctioned

The White House confirmed that China will face an immediate 125% tariff on its exports to the United States. In a social media post, President Trump stated:

“I’m giving a 90-day break on the implementation of additional tariffs. This suspension is effective immediately.”

Following this announcement, the Dow Jones surged by 2,000 points, and the NASDAQ jumped by 8%, showing strong positive reaction in the stock market.

Market Impact: Oil, Stocks, and Precious Metals Surge

This move by Trump also brought a wave of positive momentum in global markets:

• Crude oil prices rose by 2%, with Brent crude reaching $60.12 per barrel.
• Gold prices in the international market jumped by 3%.
• The Euro currency saw a 0.4% increase.
• Brent crude later surged further, crossing $65 per barrel, while WTI crude was being sold at $62 per barrel.
• Natural gas prices also spiked by 8%, with global rates reaching $3.74 per MMBTU.

Trump’s Bold Remarks at Republican Committee

Just hours before announcing the new tariffs, President Trump addressed the National Republican Congressional Committee. In his usual blunt tone, he remarked:

“Countries are desperate to strike deals with us. They’re calling about the tariffs – dying to negotiate.”

China Hits Back with Counter Tariffs

Earlier, the U.S. had announced a 104% tariff on Chinese products. In response, China’s Ministry of Finance declared that it would impose 84% tariffs on American imports, signaling a strong retaliatory stance.

This ongoing trade war has significantly affected global trade dynamics, with both major economies taking firm steps to protect their interests while the markets react sharply to every policy shift.