Trump pauses tariff hikes for 90 days against most countries, raises China rate to 125%

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.