Trump pauses most tariffs for 90 days, but keeps 10% in place; increases tariff on China to 125%
US president Donald Trump has ordered a 90-day pause on retaliatory tariffs above the 10% already imposed, except for Chinese goods, with tariffs now at 125% after China retaliated; the EU has also retaliated. Trump may have been fearful over the impact on the US bond market.
On Truth Social, US president Donald Trump has issued a 90-day reprieve on retaliatory tariffs above the 10% tariff mark, introduced at the weekend, on all countries already imposed, except on China. The u-turn happened fewer than 15 hours after the higher tariffs, which included up to 49% tariffs on some countries, had gone into effect.
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