In a dramatic policy shift, US President Donald Trump reversed his sweeping tariffs on most nations for at least 90 days, except China. The announcement came after Trump raised the tariffs on China to 125 per cent following the Chinese decision to impose 84 per cent duties on all US imports.
The tit-for-tat measures from the two largest economies appear to have reached a new peak in the ongoing trade war.
Despite the global uproar, the White House has decided to double down on its pressure as it sent a warning to nations, saying, “Do not retaliate and you will be rewarded.”
On his decision to authorise a 90-day pause, Trump posted on Truth Social that “more than 75 countries” had reached out to the US government for trade talks and have not retaliated in a meaningful way, as he added, “I have authorised a 90-day PAUSE and a substantially lowered Reciprocal Tariff during this period of 10 per cent, also effective immediately.”
