#TariffsPause
Learn the truth about the decision to suspend American tariffs
President Donald Trump unexpectedly announced yesterday, Wednesday, a pause in the tariff assault on trading partners, after he reduced tariffs on many countries for 90 days to allow room for negotiations on trade barriers, while raising new tariffs on Chinese goods to 125%.
This move came after a week of market turmoil during which stock exchanges suffered losses in the trillions of dollars, and it was seen as the latest shift in the tariff agenda that Trump hastily introduced, causing confusion regarding its objectives.
Temporarily suspending "counter" tariffs
Trump's move means that many goods from most countries will be subject to a 10% tariff for 90 days. Trump suspended the higher "counter" tariffs that took effect on Wednesday on 57 trading partners for 90 days.
These partners, which include the European Union, Japan, and South Korea, will return to a 10% tariff rate.
The "basic" tariff of 10%, which took effect on April 5, will remain in place for most other countries, including Brazil, Australia, the UK, and Colombia, and will be applicable for 90 days.
Increasing tariffs on China to 125%
After rounds of reciprocal trade escalation
