Trump backs down and announces a 90-day pause on some tariffs
The tycoon also raises taxes on Chinese imports to 125%.
WashingtonPresident Donald Trump announced this Wednesday through Truth Social a 90-day pause on some tariffs and an "immediate" increase in taxes on Chinese imports to 125%. "At some point, I hope in the near future, China will realize that the days of taking advantage of the United States and other countries are over.
Regarding the tariff truce, Trump says he has "authorized a 90-day PAUSE, with a substantially reduced reciprocal tariff during this period, of 10%, also effective immediately." The tycoon does not specify which countries will be affected, although he justified it as a response to the fact that "more than 75 countries" have contacted the United States to try to renegotiate trade relations. Later, Treasury Secretary Scott Bessent clarified that the tariff pause implies that the tariffs known as reciprocal will be 10%.
The Trump administration's backtracking comes after days of sinking markets and with the major billionaires and investors who had begun to revolt against the president. Even so, in statements to the media, Bessent assures that the truce is not a consequence of Market pressure. "This has always been Trump's plan all along," the secretary argued, adding that "the market hadn't understood" the president's tariff plan.
