Trump Suspends Tariffs for Most Countries, Raises Them for China
US President Donald Trump has announced that he is suspending his unprecedented tariffs on most countries for 90 days and at the same time raising duties on China to 125%.
The Gaze reports on it with reference to AP.
Trump wrote on his social media platform TruthSocial that as many countries around the world have begun to offer the US to negotiate further terms of cooperation without taking any countermeasures, he is suspending his initial decision for 90 days.
"Based on the fact that more than 75 countries have approached U.S. officials... to negotiate solutions to issues related to trade, trade barriers, tariffs, currency manipulation, and non-monetary tariffs, and that these countries, after my strong insistence, have not in any way (. ...) have not taken countermeasures against the United States, I have ordered a 90-day pause and a significant reduction in mutual tariffs for this period, in the amount of 10%, which also takes effect immediately," Trump wrote.
It is not clear from his statement which countries are affected by the pause, other than the dozens of countries that have not taken countermeasures. It is also unclear whether the changes will apply to countries for which the tariff was immediately set at 10%.
At the same time, Trump announced an ‘immediate’ increase in the tariff rate on China to 125%. He also wrote about this on his social media platform Truth Social.
The US president said that he had ordered tariffs against China to be raised to 125% ‘given the disrespect that China has shown for global markets’.
‘At some point - hopefully in the very near future - China will realise that the days of ripping off the United States and other countries are no longer guaranteed or acceptable,’ Trump added.
As The Gaze reported earlier, on 2 April, US President Donald Trump officially announced the start of a trade war with all countries of the world simultaneously, announcing tariffs of 10% to 50% on imports to the US depending on the country of origin.
Donald Trump also announced the imposition of 54% tariffs on all Chinese imports to the US, the highest of any foreign country.
In response, China announced that it would impose 34 per cent tariffs on all imports from the US starting from 10 April. This angered Trump, who said he would impose additional tariffs of 50 per cent against China if it did not reverse its recent tariff measures.
After that, Beijing raised tariffs against the US to 84%.