President Trump announced Wednesday that his heightened “reciprocal” tariff scheme was being paused for 90 days in response to overtures from dozens of countries — but duties on Chinese imports would be heightened to 125% due to a “lack of respect” from Beijing.
“Based on the fact that more than 75 Countries have called Representatives of the United States, including the Departments of Commerce, Treasury, and the [US Trade Representative], 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, and a substantially lowered Reciprocal Tariff during this period, of 10%, also effective immediately,” Trump wrote on Truth Social, sending Wall Street soaring.
“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,” Trump began his post. “At some point, hopefully in the near future, China will realize that the days of ripping off the U.S.A., and other Countries, is no longer sustainable or acceptable.”
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