On Wednesday, President Donald Trump announced a 90-day pause on the individualized tariffs imposed on U.S. trading partners, with the exception of China. The pause came roughly 13 hours after the tariffs took effect, and the White House said tariff levels would return to 10% on all imports during the pause. Conversely, President Trump raised the tariff on Chinese imports from 104% to 125%, effective immediately, citing “the lack of respect that China has shown to the World’s Markets.” Combined with the existing 20% tariff announced in February, the White House says the effective tariff rate on Chinese imports is now 145%. Additionally, increased 25% tariffs on cars, steel, and aluminum from all countries will remain in place.
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