Trump's China Tariffs Escalate Amid Market Turmoil
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President Trump downplayed market turmoil caused by his tariff policy, calling it "transition problems." While he lowered tariffs on most trading partners to 10%, China now faces a 145% tariff, a combination of previously imposed and new levies. Trump expressed hope for a deal with China but threatened a return to higher tariffs if negotiations fail within 90 days. Despite a stock market sell-off, Treasury Secretary Bessent and Commerce Secretary Lutnick emphasized ongoing trade talks with other nations.
President Trump downplayed market turmoil caused by his tariff policy, calling it "transition problems." While he lowered tariffs on most trading partners to 10%, China now faces a 145% tariff, a combination of previously imposed and new levies. Trump expressed hope for a deal with China but threatened a return to higher tariffs if negotiations fail within 90 days. Despite a stock market sell-off, Treasury Secretary Bessent and Commerce Secretary Lutnick emphasized ongoing trade talks with other nations.
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