Trump Points 90-Day Pause on Widespread ‘Reciprocal’ Tariffs

Simply hours after implementing tariffs of various ranges on commerce companions worldwide, President Donald Trump mentioned he would pause the “reciprocal” import taxes for 90 days.

In a submit on Fact Social, Trump mentioned the pause on the deficit-based tariffs can be efficient instantly, and a base tariff of 10% can be enforced. Trump mentioned he felt the pause was wanted as a result of “greater than 75 international locations” had contacted his administration to make commerce offers.

“Every considered one of these options goes to be bespoke; it will take a while … in order that’s why we’re doing the 90-day pause,” Treasury Secretary Scott Bessent mentioned at a press convention after Trump’s submit.

The widespread tariffs of various levels on buying and selling companions worldwide went into impact simply after midnight Wednesday. The “reciprocal” tariffs included 20% on items from the European Union, 32% on Taiwan, 24% on Japan, and 25% on Vietnam.

Bessent mentioned the bottom tariff additionally applies to Mexico and Canada, which weren’t included within the unique spherical of “reciprocal” tariffs introduced every week in the past. Trump’s submit additionally mentioned that China wouldn’t obtain a reprieve and tariffs on the nation would improve to 125%.

UPDATE—This story has been up to date with extra info.