President Donald Trump said today that he will pause for 90 days the “reciprocal” tariffs above 10 percent that he imposed on dozens of trading partners and that he will raise duties on Chinese imports to 125 percent. The president’s about-face comes roughly 13 hours after higher reciprocal duties on 56 nations and the European Union went into effect, a move that fueled market turmoil and stoked recession fears. The president came under massive pressure from business leaders and investors to reverse course.
“I have authorized a 90 day PAUSE, and a substantially lowered Reciprocal Tariff during this period, of 10%, also effective immediately,” Trump posted on social media.
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It wasn’t immediately clear which nations will receive tariff relief. Those that do will still be taxed at the 10 percent baseline rate, which went into effect on Saturday. Trump said more than 75 countries had contacted his administration to negotiate on trade barriers and “have not, at my strong suggestion, retaliated in any way, shape, or form.”
Trump also said he was raising rates on China over its refusal to negotiate. The president had previously imposed a 104 percent charge on Chinese imports, which Beijing responded to with its own 84 percent tariff on American goods. “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 a social media post today.
Treasury Secretary Scott Bessent couched the turnabout as a victory for Trump, telling reporters the president “created maximum negotiating leverage for himself” in talks with other nations. He said he would be speaking to officials from Vietnam, Japan, India, and South Korea in the coming days.
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