Donald Trump has placed a 90-day pause on most of his reciprocal tariffs, despite repeatedly insisting that no such pause would take place.
“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,” Trump wrote on Truth Social on Wednesday.
Trump refused to stop his trade war with China, however, declaring in the same announcement that tariffs on the country would rise even more, to 125 percent.
“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. 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,” Trump wrote in the same Truth Social post.
While the 10 percent tariffs on remaining countries is a significant reduction, by the measure of just a few months ago, it’s still quite extreme.
This is a developing story.
