US President Donald Trump said on Wednesday he would pause the imposition of full reciprocal tariffs on dozens of non-retaliating countries for 90 days, while simultaneously escalating duties on Chinese imports to 125%.
“I have authorized a 90-day PAUSE, and a substantially lowered Reciprocal Tariff during this period, of 10%, also effective immediately,” Trump wrote in a social media post.
The temporary relief applies to countries that have not retaliated against the United States in the ongoing global trade conflict.
The lower 10% tariff during the pause marks a shift from earlier plans to impose significantly steeper levies on all US trading partners.
Trump attributed his decision to delay the full implementation of tariffs to outreach from “more than 75 countries,” which he said have contacted US officials “to negotiate a solution” to the trade issues he cited in justifying the sweeping new duties.
However, Trump sharply increased pressure on China, citing its failure to engage in negotiations and continued market defiance.
“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,” he said.
The move marks the latest escalation in Trump’s global trade war, which has triggered sharp reactions from China, the European Union, and other major economies.
The White House has said the policy is aimed at levelling the playing field for US manufacturers, though critics warn it risks fueling inflation and slowing global growth.
US stocks skyrocket
Stocks rallied sharply after President Donald Trump announced the temporary pause in the implementation of new tariffs, providing relief to markets that had endured heavy selling pressure over the past five sessions.
The S&P 500 rose 6%, the Dow Jones Industrial Average climbed 2,159 points, or 5.7%, and the Nasdaq Composite jumped 8%, marking one of the strongest single-day rebounds in recent memory.
Leading the charge were shares of companies that had borne the brunt of the tariff-driven selloff.
Apple advanced 7%, Nvidia surged 10%, and Walmart gained 9%, reflecting a swift reversal in sentiment.
Earlier in the day, markets remained volatile amid escalating tensions, with the US and China locked in a retaliatory trade exchange and the European Union approving its first round of tariffs on American goods, set to take effect April 15.
The post President Trump pauses tariffs on several countries, China duty hiked to 125% appeared first on Invezz
