U.S. President Donald Trump posted on Wednesday a message on his social media platform, Truth, announcing an immediate increase in tariffs on China to 125%. However, it’s not clear whether this includes the previously proposed 20% tariff on fentanyl or refers solely to reciprocal tariffs. At the same time, he has granted a 90-day pause on tariffs on other countries.
A universal 10% tariff on all nations remains in effect, along with existing duties on automobiles, steel, and aluminum — measures that together already represent the most significant protectionist barrier in a century. Markets surged following the announcement, with Wall Street posting gains of 6% to 8%. Earlier Wednesday morning, Trump posted: “This is a great time to buy.”
Trump’s move creates a dilemma for his trade partners, including the European Union, which now faces a 10% tariff, with the prospect of an increase if there is any retaliation. For the time being, Trump is using China as an example.
“Based on the lack of respect that China has shown to the World’s Markets, I am hereby raising the Tariff charged to China by the United States of America to 125%, effective immediately,” Trump announced on Truth Social. “At some point, hopefully in the near future, China will realize that the days of ripping off the U.S.A., and other Countries, is no longer sustainable or acceptable.”
“Conversely, and based on the fact that more than 75 Countries have called Representatives of the United States, including the Departments of Commerce, Treasury, and the USTR, to negotiate a solution to the subjects being discussed relative to Trade, Trade Barriers, Tariffs, Currency Manipulation, and Non Monetary Tariffs, and that these Countries have not, at my strong suggestion, retaliated in any way, shape, or form against the United States, I have authorized a 90 day PAUSE, and a substantially lowered Reciprocal Tariff during this period, of 10%, also effective immediately. Thank you for your attention to this matter!” The details of his decision are unclear.
The so-called reciprocal tariffs went into effect at midnight Tuesday into Wednesday on the U.S. East Coast. Some U.S. television networks even displayed countdowns on their broadcasts as the implementation drew near. The new measures include a 104% tariff on imports from China, 20% on goods from the European Union, and between 20% and 50% for dozens of other countries, including Japan, South Korea, and Switzerland.
U.S. Treasury Secretary Scott Bessent said that the entire strategy is Trump’s doing, which could be seen as both praise and as a disclaimer.
There was no expectation of a last-minute reversal — something the president has done in the past in his often erratic and unpredictable trade policy. This time, the countdown proved inevitable. The president signed a final executive order approving a 50% surcharge specifically on Chinese imports.
In two separate speeches, Trump sent mixed messages: on one hand, suggesting room for negotiation, while on the other, making it clear that he seeks to approach any talks from a position of dominance.
“These are tailored, highly tailored deals,” Trump said at the White House, surrounded by miners—one of the industries Trump envisions for the future of the United States. “Right now, Japan is flying here to make a deal, South Korea is flying here to make a deal, and others are flying here.”
“We’ve had talks with many, many countries, over 70, they all want to come in. Our problem is, can’t see that many that fast,” he added.
However, just hours later, at an event with Republican congressmen, dressed in a tuxedo and bow tie, he descended into vulgarity. “I’m telling you, these countries are calling us up, kissing my ass,” he said. Mocking the pleas of foreign leaders, he parodied: “Please, please, sir, make a deal. I’ll do anything. I’ll do anything, sir!”
“We don’t necessarily want to make a deal with them,” added the president, who, despite the contradictions and the disastrous effects his measures have had on the markets and the economy, insisted that he knows exactly what he’s doing.
Sign up for our weekly newsletter to get more English-language news coverage from EL PAÍS USA Edition
Vicente Borrero has sunburned skin and wears a hole-ridden tuxedo, a dirty old cap and faded shorts. His eyes appear to always be looking away, always on the verge of tears.
Vicente looks like the last survivor from the village of Jicotea, in Santiago de Cuba, a post-war man who saw it all and lived it all. In his house, built with a zinc roof and plank walls, through which any torrential rain can penetrate, Vicente has been waiting for someone for a long time. The day that Yasser Sosa traveled more than 90 miles to find him, Vicente couldn’t believe it. He looked at the visitor and told him that he was probably just like all the others, who had passed by the village for years, promising to help him.
Vicente doesn’t know it yet, but, in a few days, he’ll have a new home. He will leave the space where he’s lived for 77 years and move to a cement house that’s not far away. It has a garden and a front porch.
Vicente doesn’t walk like other people. Due to a congenital defect, he’s learned to move nimbly, using the strength of his arms and feet to traverse rocky paths on a daily basis. A few days ago, someone saw him crawling through a local park and notified Guillermo Rodríguez, a 34-year-old journalist from Ciego de Ávila. For at least three years, Guillermo has been raising money from Cubans on and off the island to buy houses for the homeless. The country currently has a deficit of 862,000 properties, according to data from the National Statistics Office (ONEI). However, unofficial figures suggest that there are some 1.2 million homeless Cubans, while thousands more reside in overcrowded or almost-marginal conditions.
Rodríguez asked Sosa, his right-hand man in Santiago de Cuba, to locate Vicente immediately. After finding him, he turned to his Facebook followers and told them who Vicente was: a disabled, unmarried man with no children, who had been in a wheelchair for more than 10 years. Vicente’s parents — his only support system — died a long time ago. He lives on a monthly pension of 1,500 Cuban pesos (a little over $5) from the state, enough to eat just once every two days.
It took three days to raise 210,000 Cuban pesos ($583). Rodríguez subsequently allocated 180,000 pesos ($500) to purchase the house. With the rest of the funds, he’ll furnish it with appliances that Vicente has never had. Rodríguez did the same thing over a month ago for Benito, a single father living in the center of the island, in a house made of planks with a dirt floor, and his 10-month-old baby. With 1.6 million pesos (more than $4,400), the volunteers acquired a two-story home and everything the father needed to start over.
There are days when Rodríguez searches for medicine for a mother, who is frightened by her daughter’s scabies. Sometimes he tries to get a wheelchair for a sick person, or a rice cooker for a housewife. He and his team are the ones who show up with a bar of soap or a package of spaghetti to give away, or they offer to carry a donated mattress for an elderly man who has nowhere to sleep.
It’s a silent solidarity movement. “A chain of favors,” Rodríguez notes. “Yesterday, two people went to pick up donated nebulizers for their children with asthma: they arrived with medicines to give to someone else, in case they needed them. The number of vulnerable, abandoned people is numerous. In Cuba, a network of support and empathy has been created […] in a country so devastated, people cling to that. In Cuba, only neighbors can help each other out.”
For several years now, Cubans haven’t waited around for their government. The state has left them orphaned, deprived of everything. Some say they feel betrayed, as if the authorities have turned their backs on them. Those who receive remittances from abroad are freed from depending on the increasingly scarce rationed food that the government barely guarantees. Those who manage to get into business are navigating shortages of all kinds, in a country with a collapsed, dependent economy that ended 2024 with an inflation rate of 24.88%. Tourism is increasingly depressed due to the lack of travel, while the private sector is impeded from growing. Today, in Cuba, according to studies, around 89% of families live in extreme poverty. In many cases, activists or civil society organizations fill the gaps in the ever-increasing space left by the government. And, after stepping in, almost all of them end up targeted by the political police, or are forced to abandon their work.
“The help I give is a way of denouncing the system”
“I need Clonazepam for my daughter,” says a desperate mother, in a WhatsApp group named Manos a la Obra (“Let’s get to work”). Soon, someone offers to share theirs. Groups of this type are increasingly popping up on social media. In these online forums, Cubans often share, distribute and exchange medicines. On the island — as the government itself has acknowledged — more than 460 medications are in short supply in the state pharmacies. Some people, faced with the possibility of death due to lack of treatment or surgery, launch GoFundMe campaigns to request humanitarian visas, or financial donations to cover a patient’s transfer to a hospital beyond the island.
Art historian and activist Yamilka Lafita — who has helped launch some of the most visible campaigns in recent years — asserts that, without knowing how or since when, it’s Cuban civil society that has united to survive. “In Cuba today, there are no supplies, treatments, reagents… there aren’t even doctors to perform operations. And these campaigns are a way to denounce the public health system, which is just another cog in the wheel of this failed state,” Lafita laments. She has helped transport children with cancer or in need of transplants to hospitals in Spain or the United States, so that they can receive treatment and surgeries. “Some people tell me: ‘You’re putting Band-Aids on the dictatorship.’ But I’m not putting Band-Aids on it, because my help denounces the system. Every contribution you make — whether it’s getting a humanitarian visa, or donating two syringes — helps a Cuban survive in poverty.”
Some Cubans attest that this is the greatest crisis of all time, even worse than the so-called Special Period (1991-2000), which began following the collapse of the Soviet Union. They base their testimony on the lack of hope people have for immediate change, but mostly on what can be seen on the street: an emigration of almost two million Cubans in about three years; people dying without medical care; retirees whose pensions are insufficient; or people seen sleeping on the streets, something they say was unheard of in the 1990s. The Cuban authorities acknowledge some 3,690 people “displaying wandering behavior,” but this is believed to be an undercount. José Daniel Ferrer, a renowned political leader from the eastern part of the island, knows this firsthand. Since his release from prison at the beginning of the year (following negotiations between the Cuban government and the Vatican), he’s been feeding hundreds of people. Every day, they come to his house, looking for food. With aid that he receives from abroad, Ferrer and his family distribute more than a thousand hot meals each afternoon, handing them out to people who don’t receive state support. The difference, according to the opposition leader, is that Cuba, today, is a place where there’s food for those who have money.
“In the early 1990s, the situation was such that, even if you had money, you couldn’t get much. You couldn’t move from one place to another, because the roads were deserted and there were barely any vehicles moving,” he recalls. “Now, if you have money, you can’t go to bed without eating, because there are products in dollars — very expensive — and there are MSMEs (micro, small and medium-sized private enterprises). But for those elderly people who live on a thousand-something pesos in retirement, the hunger is as terrible, even worse than what we suffered from during the Special Period. They depend on what arrives at the grocery store… and almost nothing ever arrives. So, some people are faring worse.”
In Cuba, there’s also talk of the “new rich.” This is in stark contrast to what the Cuban government denied for years: social classes in a country where everyone was supposedly “equal.” These are people who come and go from the island; they often run businesses. Many of them can be seen in the increasingly common luxury cars — such as Mercedes-Benzes, Audis, or Chevrolets — that roll through Havana’s streets. However, what nobody is spared from, what affects everyone across the board, are the blackouts, the almost-daily power outages across the country. This electricity crisis is due to the lack of maintenance at the aging thermoelectric plants, as well as the reduction in fuel arriving from allied nations, such as Venezuela.
This is something that Cubans have also tried to take control of: in the absence of a state to resolve the energy crisis that has worsened since last year, some in the diaspora send light generators, small solar panels, candles and flashlights from abroad. But the truth is that these, too, are running out. Life becomes dark for everyone, equally. In this case, it’s the Cuban government that has sought help from abroad. And, once again, it’s relying on Russia to finally pull the country out of its massive energy crisis. But that, according to economists, won’t be enough, so long as the government persists in its centralized economic model.
“Cubans have remained stuck in the Cold War view of trade relations. They believe that Russia, China and others should help them, because they’re confronting the United States and are an important player for the great powers,” says economist Ricardo Torres, a former researcher at the Center for the Study of the Cuban Economy at the University of Havana and a professor at American University in Washington, D.C. “I’m not sure the Russians see it that way. Such support would be very important for Cuba, but [the Cuban government] has never been interested in doing what it needs to do with its economic model to become a more reliable counterpart.”
More than six decades after the triumph of the Cuban Revolution, it seems clear that it won’t be Russia that saves the country, nor activists who will heal the sick and provide housing for all the homeless Cubans. According to the Cuban Constitution, the state is responsible for ensuring the well-being of the population. But people believe there’s one thing that the government — which has stopped taking charge of almost everything — does handle perfectly: control. It maintains a heavy level of repression, allocating all kinds of reinforcements to ensure this. In a country that’s unable to guarantee food, electricity, or medical care, more than 1,000 political prisoners are held in its jails.
“In Cuba, if a person suffers from a medical emergency, it’s likely that an ambulance will take hours to come, if it arrives at all,” activist Carolina Barrero sighs. “But, if that same person shouts ‘Down with Raúl Castro!’ in the street, police patrols and state security agents will appear within minutes to detain and interrogate them. This shows that the regime’s inability to provide basic services isn’t simply due to scarcity, but to a deliberate political will. Castroism has always been in the hands of an extractive elite, who are more interested in maintaining [Cuba’s] international facade than in the well-being of the people.”
Sign up for our weekly newsletter to get more English-language news coverage from EL PAÍS USA Edition
The ramping up of global trade tensions has ceased to be a peripheral concern and has become a central issue for the decision-making boards of central banks and multilateral organizations. What began as a threat by the Trump administration quickly turned into an escalation of levies between the U.S. and China that has led to a spiral that could well change the world order: a trade war with systemic effects, capable of altering capital flows, supply chains, and inflationary forecasts.
Faced with this new scenario, institutions such as the International Monetary Fund (IMF), the World Bank, the World Trade Organization (WTO) and central banks have begun to revise their growth projections, and also to redesign policies and plans that seemed untouchable until a few weeks ago. The international economic playbook now has less predictable rules, making it necessary to recalibrate strategies in real time. Even the WTO, traditionally distanced from monetary dynamics, is warning of an increasingly fragmented environment that threatens to blur the frameworks of global cooperation and to undermine the exchange of goods and economic growth.
In a prelude to the meeting to be held by the IMF next week in which macroeconomic forecasts will also be revised, the organization announced on April 17 that there would be a wave of “significant downgrades” in the growth projections of many countries. For the time being, the fund rules out a recession, but does insist there will be hikes in inflation forecasts.
“Uncertainty over trade policies has reached unprecedented levels,” explained the managing director of the IMF, Kristalina Georgieva, in a speech foreshadowing the organization’s official position. The Bulgarian politician and economist warned that prolonged uncertainty raises the risk of tensions in financial markets, as has been seen with the dollar and U.S. Treasury bonds. “These shifts should be taken as a warning,” she said. “If financial conditions get worse, everyone suffers.” She added that the longer the uncertainty persists, the greater the cost to the global economy, although she avoided any specific mention of U.S. president Donald Trump.
Speaking at the organization’s headquarters in Washington, World Bank president Ajay Banga recently warned that greater uncertainty and economic instability will weigh down the world economy. “Trade tension is causing economic agents to be more cautious, which can slow down investments and the purchasing decisions of companies and households,” he said after calling on countries to sit down and negotiate as soon as possible to establish a clear and lasting trade framework.
The situation is alarming and may yet escalate further. After declaring a universal general tariff of 10% and a melting pot of additional rates for countries with which the U.S. has a larger trade deficit, Trump announced a 90-day pause in order to negotiate with nearly 70 governments and reach an agreed solution. The only one not spared from the armistice is China, which has retaliated in kind.
So far, meetings with the other countries can be counted on the fingers of one hand. Spain’s Economy Minister Carlos Cuerpo has just met with his U.S. counterpart, Treasury Secretary Scott Bessent. There was also a meeting between Japan and the U.S., in which no agreement was reached. And April 17 saw Trump hobnob with Italian Prime Minister Giorgia Meloni — the first meeting with an EU leader since the beginning of the trade offensive, with a vague promise of some kind of deal down the line.
With no clear rules and constantly shifting policies, multilateral organizations and central banks are walking on eggshells, adopting a wait-and-see approach, though they have already begun to project scenarios and redirect monetary policy.
Monetary policy
The U.S. protectionist stance has prompted the European Central Bank (ECB) to cut rates for the sixth consecutive time, to 2.25%, in an attempt to counteract the negative economic impact of the tariffs. It is a clear signal that the eurozone is facing a period of stagnant growth, in line with the IMF’s general forecasts. The president of the organization, Christine Lagarde, has acknowledged that the overall picture is being shaped by “exceptional uncertainty” and that the increase in tariff disputes threatens to further dampen exports, one of the main drivers of the European economy, so that “growth prospects have deteriorated.”
The IMF’s glum tone has overshadowed any positive impact that the rate cut might have had on the stock markets. Contrary to the typical response to a more lax monetary policy, all markets fell. The Ibex 35 closed 0.19% down, the German Dax fell by 0.53%, while the French stock market and the Euro Stoxx 50 fell by more than 0.6%. The Italian Mib, for its part, limited losses to 0.24%.
Although the rate cut has not boosted the stock markets, it has reinforced the difference between the monetary policies of Europe and the U.S., where the Federal Reserve is being much more cautious with rate cuts. Its chairman, Jerome Powell, has just insisted on the inflationary risks of the tariffs imposed by the White House and has shown himself in favor of waiting for greater “clarity” from Trump before moving the price of money. His words have been taken by analysts as confirmation that the entity will not make a move at the next meeting scheduled for May and that a 0.25 point cut will not happen until June at the earliest.
While the ECB has cut rates by 1.75 percentage points since last June, the Fed has only applied a one percentage point cut since September and has maintained a more contained stance since December. This divergence is mainly due to the fact that Trump’s protectionist proposals bring with them an inflationary risk. By contrast, Europe is grappling with the impact of the war in Ukraine and a greater dependence on foreign trade. The recent strengthening of the euro and falling oil prices are also contributing to a slowdown in inflation in the eurozone. With the tariffs already imposed, the bloc faces significant levies, such as 25% on steel, aluminum, and the auto industry.
The WTO, which regulates trade rules, has also reassessed the economic landscape. The institution chaired by Nigeria’s Ngozi Okonjo-Iweala has cut its growth forecast for trade in goods by almost three points, from an initial increase of 2.7% to a fall of 0.2% by 2025. This is based on the current scenario. In other words, if the tariff offensive intensifies, the decline would be 1.5% this year and the global economy could fall by 7% in the long term.
Sign up for our weekly newsletter to get more English-language news coverage from EL PAÍS USA Edition
An email or text whose tone seems out of place. A friend who forgets to wish us a happy birthday or ask how we are, even though he knows we’re struggling. Someone who asks for too much, doesn’t keep their promises, or who, in our opinion, makes a serious mistake in making a decision. We’ll never be short of reasons to get irritated and despair at the world and the people in it. How can we contain our anger and frustration in the face of everything that hurts us? To achieve this, it may help to understand that, in almost all cases, anger is useless and can actually complicate things even further. Let’s look at five reasons why.
1. The other party won’t understand anything. Everyone acts from their own level of consciousness, based on a particular experience and worldview. For that person, it’s completely logical to behave this way. That’s why they’ll never be able to see the problem through our eyes. In fact, our reaction will seem much more serious to the other person than the specific fact we disapprove of.
2. Every reproach creates its justification. Nine decades ago, Dale Carnegie, the author of How to Win Friends and Influence People, noted that “criticism is useless because it puts other people on the defensive and usually leads them to try to justify themselves.” Carnegie added: “Criticism is dangerous because it wounds a person’s precious pride, wounds their sense of importance, and arouses resentment.” That brings us to the next point.
3. Anger is interpreted as arrogance. The very act of pointing out what the other person has done wrong will be seen as an imbalance of power. Someone who is indignant adopts a position of moral superiority, as it implies that they know how to do better, that they have stronger values, or that they are capable of seeing what the other person doesn’t. Even when our intention is to help or avoid danger, the other person may experience it as humiliation.
4. You’ll never convince anyone. Just as we can’t be forced to change our football team or political party, in any tense situation, the ego becomes entrenched in its position. For this reason, unless we use a very subtle persuasive strategy, questioning others only strengthens them.
5. It’s an unnecessary waste of energy, time, and relationships. One of the most famous Chinese proverbs advises: “When you are overcome with great joy, promise nothing to anyone. When you are overcome with great anger, don’t answer any letters.” Regarding the latter, anger not only deteriorates or even breaks hard-to-build bonds. It also diverts our attention from the things that really matter.
Let’s look at an example of the latter. A is convinced that B, with whom he maintains a good friendship, has made the wrong decision. Because of the trust and affection he has for B, A feels empowered to write in a message the reasons why it’s wrong for him to act this way, when he should have acted differently. B is annoyed by what he sees as intrusion and misinterpretation of his actions. Therefore, he will respond to A’s long message with an equally long reply that may include some overt or veiled jabs.
Realizing that he has offended his friend, A will be forced to compose an equally long or longer message, apologizing for some of the things he said and redirecting what he really wanted to say.
After this, the relationship may freeze, or at least there may be a greater distance between the parties. No one feels comfortable with the situation that has been created. If, in a subsequent personal meeting, the matter is brought up again, that investment of time and energy will have to be added to what has already been wasted with the previous back-and-forth messages. And all of it for nothing. Wouldn’t it have been better to contain the desire to scold or lecture the other person, seeing this as a splendid opportunity to keep quiet? As the Chinese philosophy of wu wei (non-action) reminds us, we will rarely regret having held back, while we will regret countless times having let ourselves go. Perhaps that’s why Thomas Jefferson, the third president of the United States, practiced the classic measure of counting to 10 when he was angry and recommended: “If you are very angry, count to 100.” It’s well-known advice, but it can save us a lot of trouble.
Nonviolent communication
— In 1972, psychologist Marshall Rosenberg proposed that we renounce all reproach, criticism, judgment, or blame if we truly want to understand each other. In nonviolent communication, unsolicited opinions and psychological analyses that imply pathology in the other person are out of place.
— Saying “you’re a narcissist” and thinking the other person will change reflects a profound ignorance of how human relationships work.
— Instead of pointing fingers, the alternative is to express how you feel. According to Rosenberg: “If we evaluate from the heart and from our needs, the other person identifies.”
Sign up for our weekly newsletter to get more English-language news coverage from EL PAÍS USA Edition