Trump pauses most new tariffs for 90 days, increases China tariffs to 125%
President Trump on Wednesday announced a 90-day pause on most of his new tariffs, and a lowering of the “reciprocal tariff” rate to 10%, effective immediately, he said on Truth Social. The U.S. stock market surged immediately after the president’s announcement. At the same time, the president said he’s increasing the tariff rate on goods imported