The tough tariff measures announced by US President Donald Trump last week are not simply trade retaliation - but a carefully calculated ding strategy.
That was a striking statement by US Treasury Secretary Scott Bessent at a press conference on the afternoon of April 9, right after President Donald Trump announced a temporary suspension of most of the counterpart tariffs within 90 days.
We have seen President Trumps successful negotiation strategy which has led to more than 75 countries agreeing to enter the negotiation table, CBS quoted Bessent as saying, referring to the countervailing tax measures announced on April 2.
Bessent said the US is ready to listen to any willing countries to negotiate and will cut tariffs to a basic 10% for them, while affirming that the US will continue to work with partners to find sustainable solutions. The announcement came just minutes after Trump announced his decision to temporarily suspend much of the new tariffs.
White House spokeswoman Karoline Leavitt compared the recent tariff moves to bargaining art, inspired by Trumps famous book of the same name The Art of the deal published in 1987, which reads: The Art of the deal.
Many in the media have clearly missed the art of the deal. They dont understand what President Trump is doing, Leavitt said.
Wall Street immediately reacted positively: The S&P 500 index increased by more than 8% on the afternoon of April 9, ending a series of days of decline due to concerns about large-scale trade war.
Previously, many economic experts warned that a series of tariffs imposed by the Trump administration could increase the risk of recession and push inflation back, as businesses such as Walmart often shift tax costs to consumers.
Right before the decision to temporarily suspend, the US stock market was approaching the " bear market" - that is, when stocks fell more than 20% compared to the most recent peak. Many large companies such as Delta Airlines have warned about the impact of import taxes, causing consumers to tend to cut spending in the context of economic instability.
This is the news that we and the entire Wall Street are waiting for, as the pressure on Mr Trump increases, according to accordingbushs technology expert Dan Ives.
However, China is a big exception in this "heating down". Bessent said the tariffs on Chinese imports will increase to 125% - as Beijing "deberately escalates" when it announced an 84% increase in tariffs on US goods, a sharp increase compared to 34% previously. This comes after Trump's 104% tariffs on Chinese goods took effect in the early morning of April 9.
Despite the tax delay, the " turn-off" signals in Mr. Trump's tax policy are making it unpredictable for global businesses to predict and delay major investment decisions.
It is definitely an enemy of investment. As you prepare to pour billions of dollars into the US, even if the tariffs are lifted, the worry is still deep in your subconscious: Will this happen again?" - Mr. Scott Lincicome, a trade expert at the Cato Institute, shared with CBS MoneyWatch.
