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US President Donald Trump has announced a 90-day pause on tariffs but has simultaneously increased the tariff on China to 125 percent. In a post on Truth Social, Trump explained that the move came in response to what he called China's disrespect towards global markets. As a result, the tariff on Beijing is now set at 125 percent, effective immediately.
Trump also expressed confidence that China would soon realize that the days of exploiting the United States and other countries are over. He revealed that more than 75 countries had approached the US for trade deals and that these countries had not retaliated against the US in any way. As a result, Trump stated that these nations would benefit from a 90-day tariff pause, with reciprocal tariffs set at just 10 percent during this period.
Following Trump's announcement, the Dow Jones, a leading index of the American stock market, surged by more than 2,000 points.
