(WASHINGTON DC) — President Donald Trump is announcing a 90 day pause on some tariffs. White House Press Secretary Karoline Leavitt said it’s due to countries calling to negotiate trade deals. In a post on Truth Social, Trump said the pause is effective immediately.
Trump also said he’s raising the tariff charged against China to 125-percent. Treasury Secretary Scott Bessent said the increase is because China chose to retaliate by raising tariffs on U.S. goods. President Trump says no other president would have done what he did regarding tariffs, speaking outside the White House shortly after announcing the 90-day pause on some tariffs. The President also said China wants to make a deal and he expressed confidence that a trade deal will be made with every country.
Wall Street reacted positively to the news with the Dow Jones Industrial Average, S&P 500 and Nasdaq all surging in the minutes following Trump’s announcement. The grain and livestock markets along with energies and metals also had a sharply higher reaction following the news. Don Roose with U.S. Commodities joined us for closing commentary to discuss the market moving headlines on Wednesday.
