President Donald Trump announced Wednesday that he is pausing most nations’ tariffs for 90 days but is raising rates for China.
In a Truth Social post, Trump said he “authorized a 90 day PAUSE, and a substantially lowered Reciprocal Tariff during this period, of 10 percent, also effective immediately.”
The countries that will see the 90-day pause include more than 75 countries that he said reached out to the White House to negotiate on trade deals and “have not … retaliated in any way, shape, or form against the United States,” Trump wrote on Truth Social.
Trump last week announced a baseline 10 percent tariff on nearly every country but had higher rates for major U.S. trading partners. China was among those, and Trump said he would be raising tariffs on the country’s goods to 125 percent after the Chinese regime said it would impose higher tariffs on U.S. products….