Trump Pauses Tariffs for 75 Countries Amidst Ongoing Trade Tensions

US President Donald Trump announced sweeping tariffs on Liberation Day, which resulted in global market crashes and tiffs with the trading countries. However, Trump has now announced a 90-day pause on tariffs for more than 75 trading countries.

The European Union has put a hold on it’s measures following Trump’s 90-day pause. However, China retaliated by implementing 84% tariffs on all US imports. China also said, “it can handle the pressure.”

Earlier, in a Truth Social Post, Trump referred to China as it’s biggest abuser and also called the tariffs “ridiculously high.” Vietnam also issued a 45-day negotiation to discuss the matter. The Tariffs not also escalated disputes between the US’s trading countries, but also created havoc in the global market.

The Global Market took a drastic hit after Trump’s announcement, as markets went down, including the US Equity market, which lost a whopping $6 trillion. Trump, unbothered, ensured thatthe  US is making more than 2 Billion per day. Trump also mocked countries as he made a statement during the Republican dinner. “These countries are calling us up, kissing my ass.”

The values of cryptocurrencies also plunged to $77,000, affecting other major currencies too. After the value descended, a wave of panic hit the financial market, leaving them concerned about digital currencies.

Trump’s decision to pause the tariffs may help countries to negotiate and call off the tariff war, in order to control inflation and recession which may arise if the dispute is not settled.