Trump Pauses Tariffs on Most Countries, Except China, Amidst Global Trade War

US Tariffs Paused Amidst Global Trade War

• 🇺🇸 President Trump has paused new US tariffs for 90 days, a move that caused markets to soar and investors to celebrate.
• 📈 Wall Street experienced some of its biggest single-day gains ever after the reversal on tariffs that had previously threatened global markets.

China as the Primary Exception

• 🇨🇳 China is the major exception to the tariff pause, facing new US tariffs of 125% after retaliating with its own tariffs.
• 🌍 The global trade war is largely narrowing down to a conflict between the United States and China.

Political Developments on Capitol Hill

• 🏛️ House Republicans were unable to advance President Trump's budget bill, forcing GOP leaders to regroup.
• 📉 Some Republicans are pushing for greater spending cuts within the proposed budget.
• 🤔 It remains unclear if the numbers have shifted significantly to allow the budget bill to pass.