Tariff Pause
United States President Donald Trump announced a three-month pause on all the “reciprocal” tariffs that went into effect, except for China, a stunning reversal from a president who had insisted historically high tariffs were here to stay. Enormous tariffs will remain on China, the world’s second-largest economy. Trump said they will be increased to 125% from 104% after China announced additional retaliatory tariffs of 84% against the United States. He said that all other countries subjected to reciprocal tariff rates will see rates return to the universal 10% rate.