Trump backs off reciprocal tariffs, slaps 125% duty on China

President Donald Trump’s higher tariffs became the law of the land this morning. By the afternoon, however, he changed course, announcing a 90-day pause on higher duties he imposed across the world.

In a surprise social media post, Trump said he made the decision after more than 75 countries reached out to U.S. officials looking to engage in negotiations. For now, the U.S. will levy a 10% tariff on all imported goods.

The one country not included in the tariff pause is China. In the same Truth Social post, Trump said he was increasing tariffs on Chinese imports to 125%. According to the president, this decision was based on the “lack of respect that China has shown to the world’s markets.”

Click here to continue reading