President Donald Trump announced a 90-day suspension of his broad tariff plan on Wednesday, setting a standard 10 percent rate for all countries except China, which will face even steeper duties.
"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," Trump wrote on Truth Social.
Trump stated that over 75 countries had requested negotiations regarding the tariffs, and announced that he had "authorized a 90 day PAUSE, and a substantially lowered Reciprocal Tariff during this period, of 10%, also effective immediately."
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