Trump announces a ’90-day pause’ on tariffs outside of China
1 min read
Summary
After threatening to impose tariffs on various nations, and seeing many of them retaliate, US President Donald Trump has bowed to the inevitable.
He has agreed a 90-day pause on trade tariffs, and will lower the rate on those goods coming into the US to 10%.
However, he has also increased the rate on Chinese imports to 125%, and warned China that this could go even higher unless it changes its ways.
In a post on his Social media site, Truth, Trump said that nearly 80 countries had called Washington to discuss trade disputes, and that none of them had retaliated.
He named Vietnam as one of the countries that would see a steep reduction in its tariff rates.