The Dow Jones Industrial Average soared over 2,500 points Wednesday on news that the Trump administration will pause reciprocal tariffs for 90 days for those countries that have reached out for negotiations.
President Donald Trump posted on Truth Social, “I have authorized a 90 day PAUSE, and a substantially lowered Reciprocal Tariff during this period, of 10%, also effective immediately.”
The president noted that 75 countries had called representatives of the U.S. “to negotiate a solution to the subjects being discussed relative to Trade, Trade Barriers, Tariffs, Currency Manipulation, and Non Monetary Tariffs.”
However, China has not sought to negotiate, but has retaliated with high tariffs on U.S. goods.
“Based on the lack of respect that China has shown to the World’s Markets, I am hereby raising the Tariff charged to China by the United States of America to 125%, effective immediately,” Trump wrote.
“At some point, hopefully in the near future, China will realize that the days of ripping off the U.S.A., and other Countries, is no longer sustainable or acceptable.”
( @realDonaldTrump – Truth Social Post )
( Donald J. Trump – Apr 09, 2025, 1:18 PM ET )Based on the lack of respect that China has shown to the World’s Markets, I am hereby raising the Tariff charged to China by the United States of America to 125%, effective immediately. At… pic.twitter.com/9Jikp9cqpy
— Donald J. Trump 🇺🇸 TRUTH POSTS (@TruthTrumpPosts) April 9, 2025
Treasury Secretary Scott Bessent told reporters at the White House, “We saw the successful negotiating strategy that President Trump implemented a week ago today. It has brought more than 75 countries forward to negotiate.”
Do you trust Trump’s tariff process?
“It took great courage — great courage — for him to stay the course until this moment,” the secretary added. “As I told everyone a week ago in this very spot, ‘Do not retaliate, and you will be rewarded.’”
Scott Bessent is SHINING right now.
This is his territory and he OWNS it!
LFG!!! pic.twitter.com/TEtfOwkBMG
— Gunther Eagleman™ (@GuntherEagleman) April 9, 2025
Bessent reiterated Trump’s Truth Social announcement, saying that a baseline 10 percent tariff will be in place for those countries that wanted to negotiate.
Based on the news, the Dow Jones Industrial Average shot up over 2,500 points, cresting back over 40,000 after falling below 37,000 on Monday.
Meanwhile, the S&P 500 rose nearly 400 points to over 5,300, and the Nasdaq went up approximately 10 percent to over 16,700.
Trump said at the White House Tuesday that a benefit of tariffs is that they are generating approximately $2 billion in revenue per day.
President Donald Trump has claimed that his administration’s tariffs are generating substantial revenue for the U.S. economy, estimating that they bring in approximately $2 billion a day.
MORE: https://t.co/Eo1dYgjD6V pic.twitter.com/1DAQ5yrWbj
— KSNV News 3 Las Vegas (@News3LV) April 9, 2025
Last Wednesday, Trump announced he was imposing a universal 10 percent baseline tariff and significantly higher reciprocal tariffs for dozens of countries, including China, Vietnam, and members of the European Union.
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