China retaliated against the US by announcing an 84% tariff on US goods. This is a silly gesture, as China barely buys anything from us. They mostly just steal.
Trump trumped China by jacking the China tariff up to 125%.
The White House is clarifying that Trump's announcement of a 90-day tariff "pause" means that the "tariff level will be brought down to a universal 10% tariff" during that time, while "negotiations are ongoing."
That respite does not apply to China, which will see U.S. tariffs on its goods rise to 125%.
The markets liked the 90-day pause on tariffs for countries other than China.
Dow surges 1,800 points after Trump signals a 90-day pause on tariffs
Stocks surged after President Donald Trump announced a pause in tariffs, causing a market that's been under extreme pressure the last 5 days to explode higher.
The S&P 500 gained 6%. The Dow Jones Industrial Average rose 2159 points, or 5.7%. The Nasdaq Composite jumped 8%.
Stocks touched their session highs as Treasury yields eased following a strong bond auction. Earlier, yields had risen above 4.5%. The benchmark 10-year Treasury yield was last at 4.4%.
China announced it will impose an 84% levy on U.S. goods starting Thursday. This comes after U.S. tariffs of 104% on Chinese imports took effect shortly after midnight. The EU also approved its first set of tariffs on the U.S. set to start April 15.
Kevin O'Leary says he wants Trump to hit China with a 400% tariff to get Xi on a plane to DC immediately. He says all they do is cheat and steal IP, and it's time to bring them to heel.
He says that Xi will be kicked out of office the moment these high tariffs begin to hurt China's economy, so Xi will be forced to make major concessions to Trump.
The CNN panel explodes with All the Outrage, obviously.