China has called on the United States to engage in dialogue and resolve trade tensions “halfway,” after President Donald Trump paused tariff hikes for most countries—but sharply raised duties on Chinese imports.

Global markets surged following Trump’s surprise announcement of a 90-day tariff freeze, though China was hit with a steep hike to 125% from 104%. In response, Beijing imposed 84% retaliatory tariffs on U.S. goods.

China’s commerce ministry warned the move could severely impact the global economy but reiterated its openness to talks based on “mutual respect and win-win cooperation.”

While U.S. stocks soared—S&P 500 up 9.5%—Beijing is reportedly weighing economic stimulus measures amid mounting trade pressure. The EU and Asian nations welcomed the pause, with many expressing readiness for new negotiations.

Trump maintains that tailored trade deals are forthcoming, declaring, “What a day, but more great days coming!”

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