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Markets posted big gains Wednesday, and sharp losses Thursday, after President Donald Trump announced a 90-day pause to many tariffs, but some still remain in effect.

By: Brad Randall, Broadband Communities

The Dow Jones finished up almost 3,000 points Wednesday, before tumbling over 1,000 points Thursday, after President Donald Trump announced a pause on most of his so-called “reciprocal” tariffs.

Trump spoke about the pause at the White House on Wednesday, which did not include tariffs on Chinese imports.

The president said people were getting “yippy” and “afraid” in response to his tariff announcements last week.

“China wants to make a deal,” Trump said. “They just don’t know how quite to go about it.”

Trump also said he was watching the U.S. bond market with concern on Tuesday night, noting that attitudes had become “a little queasy.”

Earlier in the day, White House Press Secretary Karoline Leavitt said tariffs on Chinese imports will be raised to 125%.

On Thursday, the White House clarified that tariffs on Chinese imports are actually 145%.

The increase was “because China imprudently decided to retaliate against the United States,” Leavitt said.

Treasury Secretary Scott Bessent also said the 90-day pause was part of the president’s strategy.

According to published reports, China has announced that tariffs on U.S. imports will go into effect on April 10, at a rate of 84%.

Other countries involved in the president’s slate of “reciprocal” tariffs will see taxes on imports now placed at 10%, CNN has reported.

Despite the massive gains Wednesday, the Dow Jones remains down over 5% over the past 30 days.

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