#TariffsPause

United States President Donald Trump on Wednesday paused steep tariffs on America’s trading partners barring China, instead imposing a blanket 10 percent tariff on goods imported from these nations and territories.

The 90-day pause cameWhy did Trump pause the tariffs?

Trump announced the three-month reprieve from the tariffs on Wednesday, amid negotiations with more than 75 countries to reduce the levies on their goods, he said.

The US president said that all the countries that had not retaliated against his tariffs would only face a 10 percent blanket tariff until July. He suggested his pause was strategic – to reward those countries that agreed to work towards a deal with him. within 24 hours of the duties taking effect.

The pausing of most additional tariffs, which had roiled the stock market, sent US major stock indices soaring to one of their biggest single-day gains since World War II, even though they remain nearly 11 percent below their February 19 peak under Trump.