China urged the U.S. to seek common ground after President Donald Trump escalated tariffs on Chinese goods, even as he paused similar hikes for other countries—a move that sent global markets soaring.
Trump’s unexpected 90-day delay on most new tariffs triggered major gains across Wall Street, Europe, and Asia. However, Chinese imports faced a steep increase—from 104% to 125%—further straining ties with Beijing.
China responded with retaliatory tariffs of 84% on U.S. goods and warned the standoff could harm the global economy. Still, officials stressed diplomacy remains an option.
“We hope the U.S. will meet us halfway through respectful talks,” said Commerce Ministry spokeswoman He Yongqian.
At the White House, Trump remained firm, claiming deals were underway globally and criticizing Chinese leaders for lacking direction.
Beijing’s leadership is reportedly weighing new economic stimulus measures to cushion the blow of the escalating trade war.
Markets Surge on Tariff Pause
Despite the China tensions, markets celebrated the tariff delay. The S&P 500 jumped 9.5%, and stock indices in Hong Kong, Tokyo, and Europe surged. Even Shanghai posted gains.
On Truth Social, Trump called it “a great day,” while trade adviser Peter Navarro declared it “the greatest trade negotiating day in U.S. history,” citing over 75 nations seeking talks with Washington.
International Response
Japan welcomed the pause but pushed for relief on auto and steel tariffs. ASEAN countries avoided retaliation and expressed openness to dialogue. The U.S. and Vietnam also agreed to launch trade negotiations.
The EU struck a tougher tone, unveiling tariffs on €20 billion of U.S. goods, but EU President Ursula von der Leyen still called the pause a positive step toward economic stability.
Trump’s Trade Playbook
Trump insists aggressive tariffs will boost U.S. manufacturing by pressuring companies to return home. China remains his primary target, with accusations of dumping cheap goods into global markets.
“These countries are calling us, kissing my ass,” Trump reportedly told Republican allies at a dinner, bragging about America’s new leverage.
