U.S. President Donald Trump announced this evening (Wednesday) a 90-day delay in the implementation of tariffs on most countries around the world – with China notably excluded, as its tariff rate was raised to 125%.
In an official statement, Trump explained that 75 countries had approached the United States seeking to open negotiations. Due to the absence of hostile responses, the administration decided on a temporary freeze of the tariffs and a mutual reduction to 10% – effective immediately.
Israeli Prime Minister Benjamin Netanyahu was the first foreign leader to meet with Trump to discuss the tariffs and negotiate a trade deal for Israel.
Markets React: Sharp Surge Across Indices
The announcement triggered a highly positive response from global financial markets: the Dow Jones Industrial Average jumped by approximately 5.76%, the S&P 500 rose 6.46%, and the NASDAQ saw an especially sharp increase of 8.04%.
In contrast, the strong measures against China were explained by Trump as a response to what he called “China’s disregard for global markets.” He declared, “The days when China exploited the United States and its partners – are over.”
“Flooded with Requests from Around the World”
As previously reported, Israel had been subject to a 17% tariff on goods exported to the United States. The announcement also had an impact on the currency market: the U.S. dollar surged past 3.8 shekels – its highest level since October 2024.
A White House spokesperson explained Trump’s decision, saying they were flooded with requests from around the world, and will continue with the policy of a universal 10% tariff, subject to negotiations.
