President Trump just announced a complete three-month pause on all reciprocal tariffs that went into effect at midnight.
The only exception to the above clause would be China, which is said to be a reversal from a president who kept on insisting that historically high tariffs are going to stay.
The huge tariffs will remain on China, which has the world’s second-largest economy. In fact, Trump shared how he would now be increasing the previous high of 104% to 125% after the nation chose to add retaliatory tariffs against the US on Wednesday.
All other nations were subjected to reciprocal tariff rates. Wednesday would now see the rates go back down to the universal 10% rate, he continued.
Based on the lack of respect shown by China, I am going to raise the tariffs charged to them, effective immediately, he continued.
Trump shared the news through his social media posts, and that really caught many people off guard. ‘At some point, hopefully in the future, China can realize that the days of ripping off the USA and other nations are gone and not acceptable!’- Trump continued to mention in the post.