Trump suspends global tariffs for 90 days, but hikes China’s to 125%
Washington: In a dramatic shift in his trade policy, US President Donald Trump on Wednesday announced a 90-day suspension of increased tariffs for most countries, while simultaneously raising tariffs on Chinese goods to a steep 125%. Trump said the move was prompted by China's continued disregard for global market norms and accused Beijing of "ripping off" the United States.
The announcement, made via Trump’s Truth Social account, comes after a week of global market turbulence. Wall Street responded immediately, with the S&P 500 surging by 6% to reach 5,281.44. Trump claimed the decision followed overtures from over 75 countries seeking negotiations and choosing not to retaliate against the US.
“All countries will face a flat 10% tariff which took effect on Saturday,” Trump said, describing it as a baseline. The temporary pause does not apply to China, where the US has now more than doubled the tariff rate from the earlier 104%.
"Based on the lack of respect that China has shown to the World's Markets, I am hereby raising the tariff charged to China... to 125%, effective immediately," he added.
In retaliation, China raised its tariffs on American goods to 84%. The Chinese Finance Ministry criticised the escalation, saying it compounded earlier mistakes.
Despite the rising tension with China, Trump noted that many countries were rushing to make trade deals, even boasting at a dinner with Republicans that foreign leaders were “calling us up kissing my a**.”
Trump justified his broader pause by pointing to market reactions, claiming people were “yippy” and “afraid,” and remarked that the bond market looked “beautiful” after the announcement.
The European Union, meanwhile, responded to earlier US duties by imposing retaliatory tariffs on more than €20 billion worth of American products, including soybeans, motorcycles, and beauty products, though it refrained from reacting to the 20% tariffs that took effect early Wednesday.
Trump’s sweeping tariff policy, initially rolled out on what he dubbed “Liberation Day,” included a 10% baseline tariff for all nations and additional rates for countries with trade surpluses with the US. While his goal, according to the administration, is to restore American manufacturing, the decision has rattled global trade and sparked diplomatic concerns.
US Treasury Secretary Scott Bessent warned nations against aligning with China, saying it would be “cutting your own throat.” In Panama, US Defense Secretary Pete Hegseth called attention to Beijing’s growing influence, particularly around the Panama Canal.
As tensions mount, the World Trade Organization warned of significant consequences. Director General Ngozi Okonjo-Iweala stated the trade war could shrink merchandise trade between the US and China by as much as 80%, cautioning that it could “severely damage the global economic outlook.”
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Humanity trumps terror: Kashmiri guide saves lives of children of Chhattisgarh tourists
Raipur, Apr 24 (PTI): Risking his own life, a Kashmiri tourist guide saved the lives of children from a group of tourists from Chhattisgarh when terrorists struck in Pahalgam on Tuesday.
Nazakat Ahmad Shah (28) was acting as a guide to a group of 11, four couples and three children, from Manendragarh-Chirmiri-Bharatpur district in Chhattisgarh during their Kashmir trip.
Shah's own cousin was killed in the attack that claimed the lives of 26 persons, he told PTI over phone on Thursday.
Arvind Agrawal, one of the tourists, posted pictures of him and his daughter with Shah on his social media handle and wrote, "You saved our lives by risking your own, we will never be able to repay the debt of Nazakat Bhai." As per his Facebook profile, Agrawal is a member of the Bharatiya Janata Yuva Morcha- a youth wing of the BJP.
Besides the Agrawals, families of Kuldeep Sthapak, Shivansh Jain and Happy Wadhavan were part of the group.
Shah sells shawls in Chirmiri town of Chhattisgarh in winter, and therefore knew these families.
"They reached Jammu on April 17 and I received them and took them to Kashmir in two vehicles. I took them to Srinagar, Gulmarg, Sonmarg and in the last leg we decided to visit Pahalgam," he said.
"Pahalgam was to be the last venue as my village is close by, and I wanted to host them, because Kashmiris have a passion for hospitality," Shah said.
"We reached Baisran around 12:00 noon. My tourists were busy with pony rides and clicking pictures. Around 2 pm I told Lucky (Kuldeep) that we are getting late, so we should go. He replied we will go after clicking some more pictures. While we were talking, we heard gunshots and initially we thought it was the sound of firecrackers.
"Suddenly, we realized it was gunshots. There were thousands of tourists who were running here and there in panic," he said.
"My first concern was the safety of the tourist families. I took Lucky's kid and another child and laid down on the ground. The area was fenced so it was not easy to escape. I noticed a small opening and asked the families to move out through that opening. They asked me to save the children first. I slipped through it with the two kids, and ran towards Pahalgam town," he said.
After depositing the children in a safe place, he returned to the spot and escorted out the others safely. "Thanks to Allah, I took all our 11 guests safely to Pahalgam," Shah said.
Adil Hussain, the son of his maternal uncle, was killed in the terror attack but he could not attend his final rites as he decided to escort the tourists back, he said.
"I knew them (Kuldeep and others) for several years as earlier I used to accompany my father to Chirmiri to sell shawls. I wanted my guests saved even if I did not survive," said Shah, who has two daughters.
Like Agrawal, Sthapak also shared his and his family's pictures with Shah on social media, and hailed him profusely for saving their lives.
"A letter written from the heart to Nazakat Bhai...My brother, the passion and bravery with which you rescued us from there is still echoing in my ears. There was chaos, gunshots, screams and the shadow of death all around. No ordinary person can do that. The humanity you showed by putting your life at stake is beyond words. I will be grateful to you all my life. I can never forget this favor," he wrote in Hindi on his Facebook page.
Sthapak also said he was concerned about Shah's own safety. "People will debate about religion and caste, but who will take care of Nazakat Bhai, who presented the most beautiful example of humanity? The heart becomes restless thinking about this," he said.
Shah picked up his child, sat him on his shoulders and ran 14 km on dangerous hills, Sthapak said.
"Nazakat bhai, you not only saved my life that day, you kept humanity alive. I will never forget you for the rest of my life," he added.
Sthapak's wife is a BJP corporator in Chirmiri town.
नजाकत खान जैसे लोग इंसानियत की मिशाल हैं।
— Dr Monika Singh (@Dr_MonikaSingh_) April 24, 2025
पहलगाम आतंकी हमले में 28 लोगों की मौत हो गई. वहीं इस बीच हमले के दौरान अपनी बहादुरी से 11 लोगों की जान बचाने वाले नज़ाकत अहमद शाह ने आंखों देखी पूरी घटना बयां की है और साथ ही उन्होंने बताया कि कैसे उन्होंने लोगों की जान बचाई... pic.twitter.com/QXxyAmlfPG
