Trump Suspends Tariffs Worldwide for 90 Days, Raises China Duties to 125%
In a message shared Wednesday on Truth Social, Trump said he approved a global tariff pause and lowered the universal tariff rate to 10%. The change takes effect immediately. But in the same breath, he announced a sharp hike on imports from China, pushing the rate up to 125%.
Trump accused Beijing of treating global markets with 'a lack of respect' and insisted the US would no longer accept what he described as one-sided trade practices. 'China has been getting away with this for too long,' he wrote. 'That era is over.'
The White House move came shortly after China introduced new retaliatory tariffs aimed at US goods. Washington's response, more forceful than expected, signals that Trump remains determined to reset the terms of trade with the world's second-largest economy.
According to the BBC , Treasury Secretary Scott Bessent described the decision as a turning point. Trump had 'great courage to stay the course until this moment,' he said in remarks to reporters. 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.
Commerce Secretary Howard Lutnick also weighed in . He and Bessent were by Trump's side when he shared the update on social media. 'The world is ready to work with President Trump to fix global trade, and China has chosen the opposite direction,' Lutnick wrote on X.
Wall Street responded with relief. The Dow jumped 2,200 points, or nearly 6%, while the Nasdaq soared more than 8%. Investors who feared a broader economic shock welcomed the move as a chance to regain footing.
Still, the 10% tariff on most countries remains in place for now, with Canada and Mexico the only exceptions. Bessent confirmed that the reduced tariff applies across the board but stressed that it's temporary.
For now, the situation remains fluid. While the 90-day pause signals a potential opening for dialogue, the sharp tariff hike on China adds a layer of uncertainty.
No one knows what the landscape will look like once the pause ends, but for the moment, this is where things stand: a temporary cooling-off period for most, a hardline stance toward China, and a global trading system bracing for what comes next. Tags: TrumpTrump tariffsUS Chinaus tariffs
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