US President Donald Trump on Wednesday announced a 90-day 'pause' on his reciprocal tariffs for all the countries except China except China. In his announcement, Trump gave all countries a 10 percent baseline except Beijing, which will see a 125% levy.
Taking to Truth Social platform, Trump credited his decision to pause the full effect of tariffs on the fact that "more than 75 countries had asked for negotiations over the tariffs". Trump said he "authorized a 90 day PAUSE, and a substantially lowered Reciprocal Tariff during this period, of 10%, also effective immediately."Meanwhile, Trump he was raising the tariffs imposed on imports from China to 125% “effective immediately” due to the “lack of respect that China has shown to the World's Markets.”"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%, effective immediately. At some point, hopefully in the near future, China will realize that the days of ripping off the U.S.A., and other Countries, is no longer sustainable or acceptable. 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, I have authorized a 90 day PAUSE, and a substantially lowered Reciprocal Tariff during this period, of 10%, also effective immediately. Thank you for your attention to this matter!" wrote Trump.
source: Network 18
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