Trump Backs Off of Original Retaliatory Tariffs — for 90 Days

President Donald Trump announced on Wednesday afternoon that he’s backing off of his original plan for reciprocal tariffs on foreign countries — for 90 days.

“I have authorized a 90 day PAUSE, and a substantially lowered Reciprocal Tariff during this period, of 10%, also effective immediately,” Trump wrote in a Truth Social post.

At the same time, Trump said that he would by increase tariffs on Chinese goods up to 125%, a further escalation in an ongoing trade war between the two countries.

“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,” Trump wrote.

Trump said that his decision to back off of the original reciprocal tariffs for countries aside from China — some of which were more than 40% — was in response more than 75 countries seeking to enter negotiations.

China, meanwhile, has responded to Trump’s tariffs by increasing their own tariff rate on US goods.

“The world is ready to work with President Trump to fix global trade, and China has chosen the opposite direction,” Commerce Secretary Howard Lutnick wrote on X, saying that he and Treasury Secretary Scott Bessent had been sitting with Trump when he made the announcement.