Trump Announces 90-Day Pause on Tariffs

President Trump has announced that he has authorized a 90-day pause on tariffs.

However, that pause does not include China which will see its tariff level raised to 125%.

Posting on Truth Social this afternoon, President Trump wrote: “… 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!”

Following the announcement, stock markets in the US and Canada have risen sharply.