Trump's Tariff Update: 90-Day Pause Announced By US President For Most Countries, China Tariff Hike to 125%

President Trump raised tariffs on Chinese goods to 125% but paused increases on other countries for 90 days.

File photo of US President Donald Trump.

Source : PTI

US President Donald Trump on Wednesday announced to increase tariffs on Chinese goods to 125%, citing its continued disregard for global market norms. At the same time, Trump announced a 90-day pause on increased tariffs for other countries as part of his plan, according to a report by Reuters.

According to The Washington Post, President Donald Trump announced a 90-day hold on his multiple tariffs on social media when Jamieson Greer, his trade representative, was in a hearing with House members.

Earlier on Wednesday, in response to the US move, China and the European Union launched retaliatory measures. According to a copy of the EU strategy obtained by The Washington Post, the bloc approved tariffs of up to 25 percent on a wide range of American products. For its part, China imposed an 84 percent duty on all US imports.

According to a European Commission statement, these new tariffs target over 20 billion euros worth of US products, including soybeans, motorcycles, and beauty items. The EU's countermeasures will be implemented in three stages: the first set in mid-April, the second will be imposed in mid-May, and the final round will go on December 1, as per the Bloomberg report.

However, the EU emphasised that these retaliatory actions could be reversed if the US agrees to a fair and balanced resolution. These latest measures come in response to earlier US duties on steel and aluminum, while the EU's reaction to Trump’s newest tariff proposals remains forthcoming.

US Representative Criticises Trump's Administration Approach

As per the Washington Post, representative Steven Horsford (D-Nev.) raised his voice while questioning Jamieson Greer, Trump's trade representative, about when he became aware of the sudden policy shift, exclaiming, “This is amateur hour.” Greer responded that he does not disclose his conversations with the president.

Later, an exasperated Horsford shouted, “WTF!” while slamming his fist on the table and criticising the administration’s approach. “Who’s in charge??” he demanded.

Earlier, President Trump also attempted to reassure the public as his expansive import tariff policy was rolled out. On social media, he urged Americans to “BE COOL.”