Washington: US President Donald Trump declared on Wednesday a 90-day pause to the reciprocal tariffs on all trade partners while doubling the tariffs on China. "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 percent, effective immediately," he wrote on his Truth Social account.
According to Kuwait News Agency, Trump emphasized that the increase in tariffs on China was a response to what he described as unfair trade practices. He expressed hope that China would soon understand that exploiting the United States and other countries is no longer sustainable or acceptable. On the other hand, Trump acknowledged the efforts of over 75 countries that engaged with US representatives to find a solution to trade disputes, including issues related to trade barriers, tariffs, currency manipulation, and non-monetary tariffs.
Trump's announcement included a significant policy shift with a 90-day suspension on reciprocal tariffs, allowing for a reduced tariff of 10 percent during this period. He highlighted that the pause was authorized because these countries, at his strong suggestion, refrained from retaliating against the United States. The temporary suspension aims to create a conducive environment for negotiating and resolving ongoing trade matters without escalating tensions further.