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JUST IN: President Trump Announces 90-Day Pause On Some Tariffs, Increases Rate For One Country
President Trump has paused “reciprocal” tariffs, except China.
He raised the tariff on China from 104% to 125%.
Trump on Wednesday announced a “90 day PAUSE, and a substantially lowered Reciprocal Tariff during this period, of 10%, also effective immediately.”
“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. 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,” Trump said in a Truth Social post.
“Conversely, and based on the fact that more than 75 Countries have called Representatives of the United States, including the Departments of Commerce, Treasury, and the USTR, 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. Thank you for your attention to this matter!” he added.
Per CNBC:
Stock market indices rocketed sharply higher on Trump’s announcement. The benchmark S&P 500 index leapt by 7%, which puts it on track for its largest single-day gain in five years.
Trump’s Truth Social post credited his decision to pause the full effect of tariffs on the fact that “more than 75 Countries” have contacted U.S. officials “to negotiate a solution” to trade concerns that he raised in imposing the new duties.
Commerce Secretary Howard Lutnick, in a tweet, said that he and Treasury Secretary Scott Bessent sat with Trump while he wrote out the announcement on Truth Social, “one of the most extraordinary Truth posts of his Presidency.”
“The world is ready to work with President Trump to fix global trade, and China has chosen the opposite direction,” Lutnick wrote.
BREAKING: President Trump issues a 90-day pause on tariffs "and a substantially lowered Reciprocal Tariff during this period of 10%," except for China.
The president has raised tariffs on China to 125%, effective immediately. pic.twitter.com/XNBKA6uH7S
— Collin Rugg (@CollinRugg) April 9, 2025
WATCH:
#BREAKING: U.S. stocks are HEAVILY spiking after President Trump announced a 125% tariff on China, and a 90 day pause on countries who reached out to negotiate
NASDAQ now up almost 10%!
China is now FIRMLY in President Trump’s crosshairs! https://t.co/2jjn22juYS pic.twitter.com/tSdZIvBO6t
— Nick Sortor (@nicksortor) April 9, 2025
CNN reports:
The higher tariffs on China came after Beijing announced new retaliatory tariffs on the United States to take effect on Thursday. The Trump administration has taken particular aim at China’s trade practices.
Trump had “great courage to stay the course until this moment,” Treasury Secretary Scott Bessent said on Wednesday. The administration told countries around the world “do not retaliate and you will be rewarded, so every country in the world who wants to come and negotiate, we are willing to hear you,” he added.
Bessent said the move “signals that President Trump cares about trade and that we want to negotiate in good faith.”