“I have authorized a 90 day PAUSE, and a substantially lowered Reciprocal Tariff during this period, of 10%, also effective immediately,” President Trump posted on his Truth Social. Trump, in the same post, said he was raising the tariff on China higher again to 125%.
The markets wasted no time in reacting. The Wall Street Journal reported that “shortly after 1 p.m. in New York, the president’s post on Truth Social lifted all three major indexes toward one of their best days on record.”
Yahoo Finance noted that it is “unclear whether countries other than China that announced countermeasures still face the tariffs rate that went into full effect on Wednesday.”
Developing…
Go Deeper: China Tariffs Increase to 104%