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Trump Announces 90-Day Pause on “Reciprocal” Tariffs
President Donald Trump has announced a 90-day pause on most of his new tariffs, along with a lowering of the “reciprocal tariff” rate to 10%, effective immediately. The move comes as tensions between the US and other countries continue to escalate.
In a statement posted on Truth Social, Trump emphasized that China will not be included in this pause, stating that the country has shown a lack of respect for global markets. As a result, he is increasing the tariff rate on Chinese goods to 125%.
Treasury Secretary Scott Bessent and White House press secretary Karoline Leavitt clarified that the universal tariff rate for the next 90 days will be 10% for virtually all countries, with the exception of China. This rate also applies to imports from Canada and Mexico.
It remains unclear what will happen after this period concludes, as countries are expected to negotiate with the Trump administration.
Source: https://www.cbsnews.com/news/trump-announces-90-day-tariffs-pause/
