President Donald Trump has announced a pause in his tariffs scheme for 90 days on all trading partners who have not retaliated against the U.S. This decision comes after more than 75 countries engaged in negotiations with the U.S. regarding trade, trade barriers, tariffs, currency manipulation, and non-monetary tariffs. As a result of countries not retaliating against the U.S., Trump has authorized a 90-day pause and a lowered reciprocal tariff of 10% during this period.
However, Trump stated that tariffs against China will now increase to 125% immediately due to China’s lack of respect for world markets. He emphasized that China needs to realize that their current practices of “ripping off” the U.S. and other countries are no longer sustainable or acceptable.
This announcement is significant, as it marks a shift in Trump’s approach to tariffs and trade negotiations with various countries. It is a developing story, and more updates are expected in the future. Journalist Rob Wile, who covers breaking business stories for NBCNews.com, reported on this latest development in Trump’s trade policies.
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