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US-China trade war: Who will suffer most in the tariff hikes? | DW News
Posted
April 12, 2025
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April 12, 2025
217,371
1,981
1,053
1.40%
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13:36Now PlayingDonald Trump's pause on a suite of tariffs that shook global markets this week has been controversial and drawn accusations of market manipulation, but may simply be a hardball tactic to recalibrate the world economy to Washington's advantage.
Trump's reciprocal tariffs first struck after midnight on Wednesday, and sent markets plummeting. He was quick to post to his Truth Social platform after the start of morning trade, telling investors to "BE COOL! Everything is going to work out well. The USA will be bigger and better than ever before!" and, minutes later, "THIS IS A GREAT TIME TO BUY!!!."
Within hours, he'd reversed course: While the US will maintain a universal 10% levy on imports at the border, a swath of additional taxes — for some nations as high as 50% — were lifted.
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The news sent diving markets suddenly soaring to the biggest single day on the S&P 500 and second-best for the Nasdaq since 2008.
Only China saw its tariffs remain in place, with Trump further increasing them.
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