Suspend tariffs for 90 days | Is the ridiculous "Trump-style recession" far away?
US stocks soared! The Dow Jones Industrial Average rose nearly 3,000 points and the Nasdaq rose more than 12%, marking its largest single-day percentage gain since January 3, 2001 and the second largest gain on record. The S&P 500 rose nearly 10%, its biggest one-day gain since 2008. This is because US President Donald Trump authorized a 90-day suspension of tariffs on countries that do not take retaliatory actions, and only retained the so-called basic tariff of 10%.
Look at what Trump did: On April 9 (Eastern Time), Trump tweeted at 6:37 a.m. (before the market opened): Everyone, hurry up and buy Dow Jones stock. 10:18 He tweeted again to announce the policy: tariffs will be suspended for 90 days. The stock market immediately soared. Isn’t this blatant market manipulation? "Who knew about it in advance and who benefited from it?" Is there any "insider trading" involved?
Just three days ago, on April 7, Kevin Hassett, director of the U.S. National Economic Council, revealed that President Trump was considering suspending tariffs on some countries for 90 days. But then the White House immediately stated that "suspending tariffs on some countries for 90 days" was fake news. Yesterday, Trump still said, "There is no consideration of suspending the tariff policy at the moment," and then on the 9th he suddenly suspended the tariffs for 90 days. Decisions that have a huge impact on the world are entirely based on Trump’s mood?
The whole world is in a state of confusion. A 180-degree turn, where is the country’s credibility? Whose face are you slapping?
U.S. President Donald Trump speaks as he signs an executive order in the Oval Office of the White House in Washington, D.C., April 9, 2025. (Reuters)
According to CNBC, on the evening of April 8 local time, Trump delivered a speech at the National Republican Congressional Committee (NRCC) fundraising dinner, humiliating countries that sought to negotiate with the United States on tariffs.
Trump mocked, "These countries are calling me, kissing my ass. They're desperate to make a trade agreement. They're saying, 'Sir, please let me make a deal. I'll do anything. I'll do anything, sir.'" Kiss ass is American slang. Merriam-Webster Dictionary, Collins Dictionary, Cambridge Dictionary and others have marked this term as informal, offensive and vulgar.
This is Trump, so ridiculous and rude. It is no wonder that Nobel Prize winner in Economics Paul R. Krugman denounced that what the United States is now showing is a kind of "malicious stupidity" and that Trump is like "a show of hegemony" whose "purpose is to intimidate people and make them bow down to him."
Perhaps only China has a way to deal with such a crazy Trump. After announcing a 104% tariff increase on Chinese goods, China launched another combination of punches - suing the United States for the latest tariff increase measures under the WTO dispute settlement mechanism, and at the same time announcing that China would impose an 84% tariff increase on all US imports (increased from 34% to 84%, a reciprocal increase of 50%), and added 12 US entities to the export control list, prohibiting the export of dual-use items to them. At the same time, six American companies including Shield AI, Inc. were also included in the unreliable entity list. It’s still the same old saying, “How you came, how I return.”
The author of the article is Paul Krugman, an American economist and winner of the 2008 Nobel Prize in Economics. (Reuters)
As a result, Trump, who was used to others being subservient, became angry and wanted to continue to increase tariffs on China to 125%. Trump must have felt "really good" the moment he made the announcement, but in fact, we all know that a 104% tariff and a 125% tariff are just numbers. With such tariffs, any foreign trade can no longer be carried out. China-US trade in goods is already equivalent to a complete decoupling. China's resolute response caught the United States by surprise. Now the tariffs are constantly being raised, and the focus is more on face, which no longer has much practical significance. But Trump has also repeatedly hinted that he hopes to talk with China and that an agreement can be reached. A White House spokesman said: "Trump is waiting for Xi Jinping's call!" But China has always been like this, "words and deeds are consistent." How can we talk with the United States, which is blackmailing and threatening?
In fact, the country that is most uneasy right now is the United States. A few days ago, the U.S. stock market plummeted, the bond market fluctuated, and people took to the streets to buy things. Americans were very angry, and more than 1,000 "Stop!" protests were held across the country. Even the minutes of the Federal Reserve's March meeting showed that Fed officials unanimously agreed that the Trump administration's tariffs and other policies have led to high economic uncertainty. In the view of many people, a "Trump-style recession" may be inevitable. Trump's sudden "spirited" 180-degree turn made him feel good, but this rapid policy change has caused irreparable damage to the US economy, not to mention the US national credibility.
美股暴漲！道瓊斯指數上漲近3000點，納指漲逾12%，創2001年1月3日以來最大單日百分比漲幅，為第二大歷史紀錄漲幅。標普指數漲近10%，創2008年來最
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