In a significant development, U.S. President Donald Trump announced on April 9 a temporary 90-day suspension of reciprocal tariffs for all countries except China. Trump declared an immediate increase in tariffs on China to 125%, citing China’s lack of respect for global markets. He expressed hope that China would soon recognize that exploiting the U.S. and other countries is no longer tenable.
In the announcement shared on Truth Social, Trump explained that more than 75 countries had contacted representatives from the United States, including the Departments of Commerce, Treasury, and the U.S. Trade Representative, to negotiate a resolution on issues related to trade, trade barriers, tariffs, currency manipulation, and non-monetary tariffs. As these countries have refrained from retaliating against the U.S. at his urging, Trump authorized a 90-day pause on reciprocal tariffs, temporarily reducing them to 10%, effective immediately. He concluded the message by thanking those involved for their attention to the matter.
