US President Donald Trump declared a 90-day pause on higher tariffs for trade partners while increasing tariffs on China to 125 per cent. President Trump took this dramatic U-turn just 13 hours after high duties on 56 nations and the European Union took effect, sparking market turmoil and raising fears of a looming global recession.
“I thought that people were jumping a little bit out of line,” Donald Trump replied when asked why he backed off, Hindustantimes reported.
“They were getting a little bit yippy, a little bit afraid. No other president would have done what I did. Somebody had to do it…They had to stop because it was not sustainable. I’m honoured to have done it. Somebody had to do what we did,” he added.
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