Trump lowers reciprocal tariffs for 90 days, but raises Chinese tariffs to 125%
A few hours after they took effect, President Trump posted on Truth Social that he has authorized a 90-day pause on the specific reciprocal tariffs.
WASHINGTON – A few hours after they took effect, President Trump posted on Truth Social that he has authorized a 90-day pause on the specific reciprocal tariffs. The 10% universal tariff, however, implemented April 5, still seems to be in effect.
“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.”
Earlier in the same post, the president said he is raising the tariff on China to 125%, “effective immediately.”
“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.”
The stock market surged 2,000 points after the post, the largest rally in 5 years, according to CNBC.
China announced earlier it will retaliate with its own 84% tariffs effective April 10.
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