Buckle up!
President Trump announced Wednesday a 90-day pause on his expanded “reciprocal” tariff plan after overtures from dozens of countries. However, tariffs on Chinese imports will rise to 125%, citing a “lack of respect” from Beijing.
Trump posted the following message on TRUTH Social:
Based on the lack of respect that China has shown to the World’s Markets, I am hereby raising the Tariff charged to China by the United States of America to 125%, effective immediately. At some point, hopefully in the near future, China will realize that the days of ripping off the U.S.A., and other Countries, is no longer sustainable or acceptable. Conversely, and based on the fact that more than 75 Countries have called Representatives of the United States, including the Departments of Commerce, Treasury, and the USTR, to negotiate a solution to the subjects being discussed relative to Trade, Trade Barriers, Tariffs, Currency Manipulation, and Non Monetary Tariffs, and that these Countries have not, at my strong suggestion, retaliated in any way, shape, or form against the United States, I have authorized a 90 day PAUSE, and a substantially lowered Reciprocal Tariff during this period, of 10%, also effective immediately. Thank you for your attention to this matter!
From The New York Post:
The announcement locks in a 10% tariff rate on most imports — including those from Mexico and Canada — until July 8, giving the administration until then to hammer out so-called “tailor-made” deals with interested nations.
“More than 75 countries” had contacted the White House to discuss one-for-one trade deals, Trump claimed, but China — who initially got hit with a 34% tariff increase that was raised to 84% at 12:01 a.m. Wednesday, chose to levy the same rate against US goods, leading Trump to escalate the trade war between the world’s two largest economies.
Treasury Secretary Scott Bessent said earlier this week that it could take until June to finalize one-for-one agreements with other nations on trade and related issues.
“This was his strategy all along,” Bessent told reporters outside the White House following Trump’s announcement.
“He and I had a long talk on Sunday, and this was his strategy all along. You might even say that he goaded China into a bad position,” Bessent insisted. “They responded, and they have shown themselves to the world to be the bad actors.”
“Trump created maximum negotiating leverage,” the treasury secretary went on, adding that the president “wants to be personally involved” in current and future negotiations.
Watch the clip below:
NEW: Scott Bessent says Trump didn’t just raise tariffs—he set a trap, and China walked right into it.
This is what 4D chess looks like.
Markets are rebounding after President Trump slapped a 125% tariff on Chinese imports while giving a 90-day pause to other countries.
The… pic.twitter.com/M9KMreyWeG
— The Vigilant Fox 🦊 (@VigilantFox) April 9, 2025
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