Trump tariffs dwell updates: President pronounces 90-day tariffs pause for some nations and 125% tariffs on China | EUROtoday

Stock markets have soared to near-record beneficial properties after Donald Trump introduced a pause on most of his sweeping international tariffs.

The president introduced this determination in a Truth Social put up on Wednesday afternoon, saying {that a} pause of 90 days can be carried out instantly.

President Donald Trump modified course once more on Wednesday and introduced a 90-day pause of his so-called “reciprocal” tariffs whereas mountaineering different duties on China to 125 %.

The president’s determination adopted a number of days of sharp losses on the inventory market. In a Truth Social put up, Trump claimed that his reversal was a results of what White House officers have claimed are dozens of international nations reaching out with the intention of re-negotiating commerce coverage with the United States, relatively than implementing tariffs of their very own.

White House Press Secretary Karoline Leavitt has confirmed that the baseline tariff of 10 % will stay in impact in the course of the 90-day pause, whereas country-specific tariffs on everybody other than China will probably be eliminated.

Top U.S. commerce companions Mexico and Canada are a part of the nations that will probably be handed the tariffs of 10 %, Treasury Secretary Scott Bessent has mentioned.