Donald Trump announced a temporary 90-day suspension of certain tariffs less than a day after they came into effect. Many see it as the president backing down from his policy after US government bonds were being sold off, and the president likely under pressure from his rich and powerful friends (Elon Musk).

Whilst he came back from the brink for most countries he had hit, all countries (interestingly, Russia was not hit with tariffs) still face a blanket 10% tariff.

The administration intensified its stance on China by elevating tariffs on Chinese imports to 125%, underscoring a complex and strained U.S.- China trade relationship.

China responded firmly to the increased tariffs, maintaining a resolute position and implementing retaliatory measures. The Chinese Commerce Ministry announced an 84% tariff on all U.S. goods, signaling Beijing’s unwillingness to yield to U.S. pressure. This escalation has heightened concerns about a prolonged trade conflict between the world’s two largest economies.

The financial markets have reacted with notable volatility to these developments. Following the announcement of the tariff suspension, global markets experienced a relief rally. However, this optimism is tempered by underlying uncertainties, as analysts caution that the fundamental issues driving the trade tensions remain unresolved. The bond market, in particular, has exhibited signs of distress, with the U.S. 10-year Treasury yield climbing from under 4% to 4.5%, reflecting diminished confidence in U.S. fiscal stability.

Amid these economic fluctuations, there have been murmurs of potential market manipulation.

The current trajectory of U.S. trade policy, characterized by abrupt shifts and escalating tariffs, has prompted warnings from economic leaders. JPMorgan Chase CEO Jamie Dimon cautioned that the ongoing trade war could precipitate a U.S. recession this year.

With so much politics dominating the news this week – lots of uncertainty too- it’s important to get back to nature and enjoy the positivity in the world.

China’s tariffs on exports to the US have risen to 125%, prompting speculation about potential retaliation and the future scope of trade relations.

Jillian Lauren, the author and wife of Weezer bassist Scott Shriner, was shot and injured by Los Angeles police after allegedly pointing a handgun at officers in her front yard, leading to her arrest on suspicion of attempted murder.

Joseph Kent, chief of staff to the Director of National Intelligence, stated that intelligence is investigating potential FBI involvement in the January 6 riots during a Senate intelligence committee hearing.

Donald Trump pauses tariffs for most countries for 90 days on “reciprocal” tariffs for over 75 trading partners, maintaining a reduced baseline tariff of 10%