Trump announces 90-day pause for Reciprocal Tariff for 75 countries

US President Donald Trump yesterday announced authorization of a 90-day pause, and a substantially lowered reciprocal tariff during this period, of 10%, which will be effective immediately.   

Following is the X message posted by Trump announcing his decision.    

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 realize that the days of ripping off the U.S.A., and other Countries, is no longer sustainable or acceptable. Conversely, and based on the fact that more than 75 Countries have called Representatives of the United States, including the Departments of Commerce, Treasury, and the Office of the US Trade Representative (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, and a substantially lowered Reciprocal Tariff during this period, of 10%, also effective immediately. Thank you for your attention to this matter!