Trump Administration To Pause ‘Reciprocal’ Tariffs For 90 Days, Except For China
President Donald Trump has abruptly suspended all reciprocal tariffs, except for those on China, which have soared to 125%. This adjustment marks a steep increase from the previous 104%. In a move that saw immediate market reactions, Trump declared a 90-day tariff reduction for other nations, setting this rate at 10%.
Expressing his dissatisfaction with China’s stance towards global markets, Trump said in a post on Truth Social to that the punitive measures. “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. He hinted at a desire for China to rectify its practices, stressing the the “current trade tactics” were unsustainable.
Following the announcement, U.S. stock markets experienced a sharp rise. The Dow Jones Industrial Average jumped by 2,200 points, a notable 5.9% increase, while the S&P 500 and Nasdaq climbed by 6.5% and 8% respectively.
Trump did not, however, extend the pause to the new 10% universal tariff imposed over the weekend on all other trading partners, excluding Canada and Mexico. This means most nations will still face a baseline 10% tariff rate.
This story is ongoing and further updates are expected as the situation develops.
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