Trump temporarily lowers tariffs for most countries, raises them for China
On Wednesday, U.S. President Donald Trump said he would temporarily lower new tariffs on many countries. Trump’s announcement came less than 24 hours after steep new tariffs kicked in on imports from dozens of trading partners. Trump said he would also suspend targeted tariffs on other countries for 90 days to allow time for U.S. officials to negotiate with countries that have sought to reduce them. A 10% blanket duty on almost all U.S. imports will remain in place, the White House said. The announcement also does not appear to affect duties on auto, steel, and aluminum that are already in place.
In addition, President Trump announced that he would raise the tariff on Chinese imports to 125% from the 104% level that took effect at midnight, further escalating a high-stakes confrontation between the world’s two largest economies.
Read more:
https://www.reuters.com/world/trumps-latest-tariffs-loom-set-deepen-global-trade-war-2025-04-09/
https://www.nbcnews.com/business/economy/trump-tariffs-president-announces-90-day-pause-what-to-know-rcna200463
