Trump announces 90-day pause on ‘reciprocal’ tariffs with exception of China
CNN
President Donald Trump announced a complete pause on all the “reciprocal” tariffs that went into effect at midnight, with the exception of China.
President Donald Trump announced a complete pause on all the “reciprocal” tariffs that went into effect at midnight, with the exception of China. Tariffs on China will be increased to 125% from 104%, he said. Trump in a Truth Social post Wednesday said he has “authorized a 90 day PAUSE, and a substantially lowered Reciprocal Tariff during this period, of 10%, also effective immediately.” “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 said in his social media post. “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,” he wrote. The higher tariffs on China came after Beijing announced new retaliatory tariffs on the United States to take effect on Thursday. The Trump administration has taken particular aim at China’s trade practices. Trump had “great courage to stay the course until this moment,” Treasury Secretary Scott Bessent said on Wednesday. The administration told countries around the world “do not retaliate and you will be rewarded, so every country in the world who wants to come and negotiate, we are willing to hear you,” he added.
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