On Wednesday, President Trump imposed a 104 percent tariff on Chinese goods and Beijing announced a levy on U.S. goods of 84 percent. The European Union also approved trade retaliation against the U.S.
Meanwhile, President Trump said he would halt implementation of his reciprocal tariffs on every other country for the next 90 days, citing new talks with foreign nations on trade. Instead, Trump raised tariffs against China's exports to 125 percent after Beijing announced a new round of retaliation.
Beijing then announced additional tariffs on imports from the United States, for a total levy of 84 percent, which went into effect at 12:01 p.m. Eastern."
At the same time, President Trump urged Americans to "be cool" amidst the stock market fluctuations in the last few days.
Trump wrote: "BE COOL! Everything is going to work out well. The USA will be bigger and better than ever before!"
He then followed up with: "THIS IS A GREAT TIME TO BUY!!! DJT" alluding to this being an excellent time for Americans to invest in the stock market.
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04.12.2025