Donald Trump announces 90-day tariff pause for several countries, hikes China tariff to…

US President Donald Trump has announced a 90-day pause on his reciprocal tariff policy. However, he announced an immediate increase in tariffs on China to 125 percent, up from the previously declared 104 percent. The new decision by the US President comes just 24 hours after it came into effect. Since the tariff announcement, there has been triggering fears of a major trade war and rising concerns about a global recession. 

“I have authorized a 90 day PAUSE, and a substantially lowered Reciprocal Tariff during this period, of 10%, also effective immediately,” Trump wrote on TruthSocial, adding that, “I am hereby raising the Tariff charged to China by the United States of America to 125%, effective immediately…Conversely, and 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.”

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