A week after announcing that the U.S. would be implementing a sweeping tariff plan worldwide, President Donald Trump announced on Wednesday a 90-day pause on tariffs for most countries — except China.
On Truth Social, Trump wrote that over 75 trading partners did not retaliate to the tariffs, and reached out to U.S. representatives to work out a deal. Those countries would gain a 90-day pause.
"I have authorized a 90-day PAUSE, and a substantially lowered Reciprocal Tariff during this period, of 10%, also effective immediately," Trump wrote. "Thank you for your attention to this matter!"
China, however, is getting an even bigger tariff on its goods — 125%.
"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 wrote on Truth Social. "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."
The European Union (EU) will also impose retaliatory duties ranging from 10% to 25% on U.S. goods. China has a reciprocal 84% tariff rate on U.S. goods, effective April 10.
What counties are under the tariff pause?
Tariffs on Mexico and Canada will be reduced to 10%.
The White House said it would not release a full list of the 75 countries, per CNBC, but the pause will not affect steel and aluminum tariffs. And because the EU imposed retaliatory tariffs, they are likely not on the list, though that could change.
While announcing the pause, White House press secretary Karoline Leavitt said the universal tariff rate would be brought down to 10%. The Treasury Secretary, Scott Bessent, said this was the "strategy all along."
Earlier in the day, Trump told his followers on Truth Social that everything is going to "work out well."
This is a breaking news story and will be updated.
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