Trump Says Big Tariffs Will Be Paused for 90 Days (Except China) in Wild Reversal

President Donald Trump announced alleged “reciprocal” tariffs volition beryllium paused for 90 days portion leaving the 10% tariffs crossed the committee successful place, sending the markets rebounding importantly Wednesday afternoon. Trump made the announcement connected his societal media level Truth Social, wherever helium said China volition get an adjacent higher tariff than the 104% that was implemented astatine 12:01 a.m. ET connected Wednesday, raised to 125% starting today.

“Based connected the deficiency of respect that China has shown to the World’s Markets, I americium hereby raising the Tariff charged to China by the United States of America to 125%, effectual immediately,” Trump wrote. “At immoderate point, hopefully successful the adjacent future, China volition recognize that the days of ripping disconnected the U.S.A., and different Countries, is nary longer sustainable oregon acceptable.”

Trump went connected to explicate that 75 countries had travel to negociate connected tariffs, though it’s unclear however countries similar Australia, which buys much from the U.S. than it exports, could adjacent statesman to negociate connected thing similar a commercialized shortage erstwhile it already didn’t person immoderate tariffs against the U.S.

“Conversely, and based connected the information that much than 75 Countries person called Representatives of the United States, including the Departments of Commerce, Treasury, and the USTR, to negociate a solution to the subjects being discussed comparative to Trade, Trade Barriers, Tariffs, Currency Manipulation, and Non Monetary Tariffs, and that these Countries person not, astatine my beardown suggestion, retaliated successful immoderate way, shape, oregon signifier against the United States, I person authorized a 90 time PAUSE, and a substantially lowered Reciprocal Tariff during this period, of 10%, besides effectual immediately. Thank you for your attraction to this matter!” Trump wrote.

It’s not yet wide if tariffs against the European Union volition stay successful place, fixed the information that it announced a 25% retaliatory tariff. There’s besides nary clarity connected what happens aft 90 days.

Treasury Secretary Scott Bessent declared triumph astatine a press conference extracurricular the White House soon aft Trump’s tweet, insisting the president had been palmy by bringing countries to the negotiating array with “maximum negotiating leverage.” But, again, it’s not wide however thing has changed astatine this point, arsenic countries simply look frustrated with the manic vigor of Trump.

Trump archetypal announced his wildly disruptive tariff program connected April 2, wherever helium presented a now-infamous illustration claiming to show the “tariffs” imposed connected the U.S. by each country. In reality, the fig showed nary specified happening and was really calculated by taking the commercialized shortage and dividing by exports. Various countries astir the satellite are intelligibly frustrated with Trump’s tactics and galore person pointed retired that the U.S. built the strategy it’s present trying to destroy. The semipermanent program seems to beryllium that countries volition present effort to way astir the U.S. alternatively than clamoring to commercialized with Americans.

“What the U.S. is doing present is not reform. It is rejecting the precise strategy it created,” Singapore’s Prime Minister Lawrence Wong said to his country’s parliament connected Tuesday.

Standing adjacent to White House Press Secretary Karoline Leavitt, Bessent was asked Wednesday wherefore radical should presume this is the extremity to the chaos. “The lone certainty we tin supply is that the U.S. is gonna negociate successful bully faith. And we presume that our allies volition too,” Bessent said.

Peter Navarro, the Trump advisor who’s celebrated tariffs the hardest, was notably absent from the speedy property league extracurricular the White House connected Wednesday. Bessent has been the 1 who’s been suggesting repeatedly that Trump’s tariff program has ever been astir negotiating and extracting concessions from different countries.

“Each 1 of these solutions is going to beryllium bespoke. It is going to instrumentality immoderate time. And President Trump wants to beryllium personally involved,” Bessent said.