Despite being in effect for only a few hours, President Donald Trump announced a 90-day pause on all “reciprocal” tariffs, except for China. The President stated that all countries impacted by reciprocal tariffs will now have their rates revert to the universal 10% rate.
Trump stated that China will not receive a reprieve and will instead face a tariff increase that raises their total to 125% from 104%.
According to the White House, goods from Mexico and Canada will continue to be subject to a 25% tariff unless they comply with the USMCA.
Following his announcement, Trump stated: “Nothing’s over yet, but we have a tremendous amount of spirit from other countries, including China. China wants to make a deal, they just don’t know how quite to go about it.”
In a social media post, Trump wrote, “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.”
By CEO NA Editorial Staff
