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2w ago

Trump Implements 90-Day Tariff Pause for Most Nations, Increases China Tariff to 125%

The policy shift follows market turmoil and international backlash, with negotiations ongoing and domestic legislative efforts seeking to limit executive trade powers.

US House Speaker Mike Johnson returns to the Capitol following a meeting with President Donald Trump in Washington, DC, on April 8, 2025.
U.S. President Donald Trump delivers remarks on tariffs in the Rose Garden at the White House in Washington, D.C., U.S., April 2, 2025. REUTERS/Carlos Barria TPX IMAGES OF THE DAY/File Photo/File Photo
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Overview

  • President Trump announced a 90-day suspension of tariffs for over 75 countries, while raising tariffs on Chinese imports to a punitive 125%.
  • The decision led to a sharp rebound in U.S. stock markets, with major indices posting significant gains after days of volatility.
  • China and the European Union retaliated with their own trade measures, escalating global trade tensions and raising concerns of economic fallout.
  • Congressional Democrats and some Republicans are pushing legislation to curb presidential tariff authority, citing economic risks and unilateral decision-making.
  • High-profile business leaders and billionaire investors, including Elon Musk and Bill Ackman, have criticized the economic impact of Trump's tariffs, with polling showing declining public support for the policy.