Donald Trump has officially declared a temporary halt on tariffs for a span of 90 days, which takes effect right away.
In a statement posted on his Truth Social platform, the U.S. President announced, “I have authorized a 90-day PAUSE, along with a significantly reduced Reciprocal Tariff rate of 10%, which is also effective immediately.”
Additionally, Trump declared that tariffs on China would be increased to a formidable 125%, effective immediately, attributing this decision to the “lack of respect that China has shown to the world’s markets.”.
The White House has officially confirmed Donald Trump’s assertive announcement regarding the implementation of a 125% tariff on China and a decisive 90-day pause accompanied by a reduced 10% tariff for other nations, starting immediately.
The White House’s Press Secretary, Karoline Leavitt, expressed that President Trump decided to amplify tariffs against China because, in her words, ‘When you challenge the United States of America, President Trump will retaliate with even greater force.’
She further elaborated that the United States intends to engage in customized negotiations, with plans to ultimately adjust the tariff level down to a uniform 10% throughout these discussions.
The US treasury secretary, Scott Bessent, has been speaking to reporters outside the White House after Donald Trump announced he authorised a 90-day pause on tariffs on most countries and a China tariff raise to 125%.
Bessent said countries who did not retaliate against the US tariff announcement last week will be “rewarded”.
“Do not retaliate, and you will be rewarded,” he said. He noted that the tariff rate on Chinese goods has been raised “due to their insistence on escalation”.
Mexico and Canada are included in the 10% baseline tariffs, he said.
Global markets surged after Donald Trump announced a 90-day pause on tariffs except for China.