🚨BREAKING🚨

Donald Trump announces 90-day pause on higher reciprocal tariffs

US President Donald Trump said on Wednesday he authorised a 90-day pause as part of his tariff plan but was also raising the tariff rate for China to 125pc, effective immediately.

The EU and other countries who were facing into tariffs of between 10pc and 47pc are now going to pay a 10pc baseline tariff for 90 days.

The exception to this is China, who, effective immediately, will be paying 125pc tariffs on all goods.

In a rambling post on Truth Social, Mr Trump said: "...based on the fact that more than 75 Countries have called Representatives of the United States, including the Departments of Commerce, Treasury, and the USTR, to negotiate a solution to the subjects being discussed relative to Trade, Trade Barriers, Tariffs, Currency Manipulation, and Non Monetary Tariffs, and that these Countries have not, at my strong suggestion, retaliated in any way, shape, or form against the United States, I have authorised a 90 day PAUSE, and a substantially lowered Reciprocal Tariff during this period, of 10pc, also effective immediately. Thank you for your attention to this matter," Mr Trump said

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