President of United States of America, Donald Trump has announced a 90-day pause on newly implemented reciprocal tariffs affecting dozens of trade partners in a dramatic policy reversal, just hours after they took effect.
The pause comes alongside a significant escalation in duties on Chinese imports, which were hiked to 125% effective immediately.
The decision marks a major shift in the administration’s trade strategy after mounting pressure from global markets, business leaders, and investors concerned about recession risks. Trump took to social media Wednesday to confirm the move, stating:
“I have authorized a 90-day PAUSE, and a substantially lowered Reciprocal Tariff during this period, of 10%, also effective immediately.”