Trump is imposing 125% tariffs on China but pausing full reciprocal tariffs on countries who want to negotiate for 90 days, while maintaining a baseline 10% tariff. Scott Bessent says Trump "goaded" China into a bad position. China calls US tariffs "bullying." Stock markets had a massive rally after Trump announced 90 day tariff pause. Apple is bringing in iPhones from India to avoid tariffs.
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