The suspension of US duties for 90 days is related to Washington's concerns about the emergence of a fresh global financial crisis “ fresh York Times writes, citing sources.
‘Decision (US president Donald) Trump was motivated by fears that his adventure with duties could rapidly turn into a financial crisis. And unlike the 2 erstwhile disasters in the last 20 years — the global financial crisis of 2008 and the 2020 pandemic — this crisis would be straight attributed to only 1 man,” the article says.
According to the newspaper, many elder advisors and Trump officials did not know about Trump's decision to suspend duties until the last minute due to the fact that the American leader on Wednesday morning inactive pointed out that he was sticking to the erstwhile plan.
It should be noted that US Treasury Secretary Scott Bessent played a key function in getting Trump to make that decision.
U.S. president Donald Trump signed an executive regulation on 2 April on the imposition of "reciprocal" duties on imports from another countries. The basic minimum rate will be 10 percent. At the same time, most countries will gotta face higher rates, which, as the U.S. Trade typical explained, have been calculated on the basis of data on the United States trade deficit with the country in question — so that there is simply a balance alternatively than a deficit. Trump announced on 9 April that the United States would immediately suspend mirror duties to over 75 countries for 90 days.
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The media gave the reason for Trump's suspension of duties
