Trump announces 90-day pause on many tariffs, excluding China
President Donald Trump has announced a 90-day pause on the sweeping tariff plan that went into effect on Wednesday, April 9, and an increase to 125 percent on the tariff on imports from China. Even with the 90-day pause, there’s still also a 10 percent tariff on all other imports to the US.
“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 percent, effective immediately, ” Trump posted on Truth Social. For not retaliating, and attempting to “negotiate a solution,” the president says he also “authorized a 90 day PAUSE, and a substantially lowered Reciprocal Tariff during this period, of 10 percent” on trade with countries other than China.
China originally announced its own 50 percent tariff on US imports on April 8, The New York Times reports, before raising the tariff to 84 percent when Trump’s plan went into effect. The European Union recently approved its own set of tariffs to go into effect on April 15.
Besides negatively impacting global trade, Trump’s tariffs have already had an …read more
