US President Donald Trump announced on Wednesday that he had authorized a 90-day pause as part of his tariff strategy while simultaneously increasing the tariff rate on Chinese imports to 125 percent, effective immediately.
The abrupt policy shift came less than a day after steep new tariffs were imposed on imports from multiple trading partners. These trade measures have rattled markets, heightened recession risks, and triggered retaliatory actions from China and the European Union.
Trump stated that tariffs on Chinese imports would rise from the 104 percent rate implemented at midnight to 125 percent. However, he also noted that tariffs on other affected countries would be reduced.
“I have authorised a 90 day PAUSE, and a substantially lowered Reciprocal Tariff during this period, of 10 percent, also effective immediately,” Trump posted on social media.
