By Donald Trump has announced a 90-day pause on new tariffs for several countries while escalating trade tensions with China by increasing tariffs on its imports to 125%.
Trump made the announcement Wednesday, stating, “I have authorised a 90-day pause, and a substantially lowered Reciprocal Tariff during this period, of 10%, also effective immediately.” However, he did not specify which countries would benefit.
The tariff freeze followed new U.S. duties on multiple nations, including China, which faced a minimum 104% tariff hike. Beijing responded with countermeasures against U.S. exports.
Defending the move, Trump accused China of unfair trade practices, declaring, “The days of ripping off the U.S.A. are no longer sustainable.”
The decision shook financial markets, initially causing volatility before a late rebound. Meanwhile, the European Union announced countermeasures in response to U.S. tariffs on steel and aluminum, signaling growing global trade tensions
