Trump announces 90-day tariff pause, spares China with steep 125% hike

Washington, Apr 9: US President Donald Trump on Wednesday announced a 90-day pause on new tariffs, which went into effect at midnight, but made an exception for China, raising the rates for imports from the Asian economic giant to an astounding 125 percent.

Taking to his microblogging site Truth Social, Trump said over 75 countries have called US representatives for negotiating a solution to issues like trade, tariffs and trade barriers.

He also noted that those countries have not, at my strong suggestion, retaliated against the US after Washington slapped reciprocal tariffs on them.

"Based on the fact that more than 75 Countries have called Representatives of the United States, including the Departments of Commerce, Treasury, and the USTR, to negotiate a solution to the subjects being discussed relative to Trade, Trade Barriers, Tariffs, Currency Manipulation, and Non Monetary Tariffs, and that these Countries have not, at my strong suggestion, retaliated in any way, shape, or form against the United States, I have authorized a 90 day PAUSE," Trump posted.

He also announced a substantially lowered reciprocal tariff during this period, of 10%, also effective immediately.

At the same time, further escalating his trade war with Beijing, Trump raised the tariff on imports from China to 125 per cent.

“Based on the lack of respect that China has shown to the World’s Markets, I am hereby raising the Tariff charged to China by the United States of America to 125%, effective immediately. At some point, hopefully in the near future, China will realise that the days of ripping off the U.S.A., and other Countries, are no longer sustainable or acceptable,” he wrote.