Trump announces 90-day pause on new tariffs

In an abrupt move, US President Donald Trump announced a 90-day pause on the reciprocal tariff that went into effect this week.

The White House clarified that Trump’s announcement of a 90-day tariff "pause" means the "tariff level will be brought down to a universal 10 percent tariff" during that period, while "negotiations are ongoing."

The measure will apply to Sri Lanka as well.

However, the pause will not apply to China, which responded to the initial U.S. tariffs with an 84 percent retaliatory tariff on American goods. Instead, U.S. tariffs on Chinese goods will rise to 125 percent.

In a post on Truth Social, Trump said the move was based on "the lack of respect that China has shown to the World's Markets."

He added that, given more than 75 countries had contacted U.S. officials — including representatives from the Departments of Commerce, Treasury, and the Office of the United States Trade Representative — to negotiate issues relating to trade, trade barriers, tariffs, currency manipulation, and non-monetary tariffs, the pause was decided on.

"...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!" Trump said.