#TariffsPause

The "US tariff pause" refers to President Donald Trump's decision in April 2025 to suspend certain newly announced tariffs for 90 days, excluding China. While a universal 10% tariff on all imports remains in effect, tariffs above 10% on imports from 59 countries-including Vietnam, Sri Lanka, the EU, Canada, and Mexico-were paused until July 2025. However, tariffs on China were increased to 125%, with an additional 20% tariff related to fentanyl imports. Key tariffs unaffected by the pause include 25% tariffs on car imports, steel, aluminum, and various goods from Mexico and Canada. This pause provided temporary relief to many countries but did not significantly alter the overall high tariff environment, which remains historically elevated and continues to strain global trade and economic growth.