Trump Pauses Tariffs — But Keeps Pressure on China
President Donald Trump announced a 90-day pause on his recently enacted reciprocal tariffs for most countries, offering temporary relief from economic uncertainty. However, the move does not extend to China, where the tariff rate was immediately raised from 104% to a staggering 125%.
The White House confirmed that goods from Canada and Mexico will still face a 25% duty unless compliant with the USMCA agreement. Meanwhile, a baseline 10% universal tariff remains in effect on all other imports not excluded.
“At some point, China will realize that ripping off the U.S.A. is no longer sustainable,” Trump said.
Despite the pause, Trump made clear he intends to use tariffs as leverage in broader trade negotiations.
Stock Market Soars, But Economic Uncertainty Persists
Following the announcement, U.S. markets rebounded sharply:
- S&P 500 surged 9.5% – its best day since 2008
- Nasdaq jumped 12.2%, second-best day on record
- Dow Jones climbed nearly 3,000 points
Trump celebrated the rally with a post declaring, “THIS IS A GREAT TIME TO BUY!!!” — a statement that also boosted shares of Trump Media & Technology Group (ticker: DJT), which rose over 20% that day.
Yet, economists warn the rally may be short-lived. According to RSM chief economist Joe Brusuelas, the pause “doesn’t eliminate recession risk — it only delays it.”
New Poll: Most Americans Say Tariffs Hurt the U.S. Economy
A Quinnipiac University national poll released April 9, 2025, found:
- 72% of voters say tariffs hurt the U.S. economy in the short term
- 53% believe they will also hurt the economy in the long term
- Just 22% believe tariffs help the U.S. short term
- Only 41% see any long-term benefit
Across political lines:
- 97% of Democrats, 77% of independents, and 44% of Republicans believe tariffs are harmful in the short term
- Long-term, 87% of Republicans are optimistic, but only 35% of independents and 3% of Democrats agree
“A large majority of voters acknowledge the tariffs are delivering a bruising body blow to the economy in the near term,” said poll analyst Tim Malloy.
Americans Most Worried About Rising Prices
In the same survey, voters were asked which economic issue worries them most:
- 47% said the price of food and consumer goods
- 20% cited housing costs
- 17% were concerned about the stock market
- Only 6% named job security
The concern about inflation echoes warnings from economists who say Trump’s tariffs — especially those on Chinese imports — will raise consumer prices on everything from smartphones to groceries.
Business Uncertainty Remains High
Despite Wall Street’s temporary bounce, importers and retailers remain cautious. The 10% tariff baseline, plus sector-specific tariffs on steel, aluminum, and autos, remain intact. Trump has also floated additional tariffs on lumber, pharmaceuticals, and electronics.
“Let’s not celebrate too early,” said Jake Colvin of the National Foreign Trade Council. “The new tariff baseline still poses long-term risks.”
What’s Next? China Retaliates, Trade Talks Uncertain
China responded swiftly to Trump’s tariff hike, imposing 84% retaliatory tariffs on U.S. goods. Beijing officials condemned the move as a “mistake upon mistake,” vowing to “fight to the end” and labeling the U.S. approach as economic bullying.
U.S. Treasury Secretary Scott Bessent claims the tariff pause was part of Trump’s long-term negotiation strategy. But internal discord was evident: U.S. Trade Representative Jamieson Greer testified he only learned of the pause after it was announced.
Conclusion: Tariff Pause Offers Relief, But U.S. Economy Still Faces Headwinds
While Trump’s 90-day tariff freeze brought momentary relief to Wall Street, data shows most Americans believe tariffs are hurting the U.S. economy now — and possibly into the future.
As tensions with China intensify and uncertainty persists for American businesses and consumers, economists and trade experts caution that the road ahead remains volatile.
This content is brought to you by the FingerLakes1.com Team. Support our mission by visiting www.patreon.com/fl1 or learn how you send us your local content here.