(DCNF)—President Donald Trump announced a 90-day pause on tariffs for roughly 75 countries that did not issue retaliatory tariffs, and said that the U.S. raised the tariff charged to China to 125%, according to a Wednesday Truth Social post.
This comes after Trump implemented tariffs on several other nations on April 2, sending shockwaves across international markets. Markets immediately responded by surging following the president’s announcement.
“Based on the lack of respect China has shown to the World’s Markets, I am hereby raising the tariff charge to China by the United States of America by 125%, effective immediately,” Trump wrote. “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, have authorized a 90-day PAUSE, and a substantially lowered Reciprocal Tariff during this period, of 10%, also effective immediately,” he continued.
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