#TariffsPause Tariffs Pause Overview:Announcement: On April 9, 2025, President Trump paused “reciprocal” tariffs on 75+ countries for 90 days, lowering rates to 10% (from 11%-50%), effective immediately, to spur trade talks, per CNBC and NPR. China was excluded, with US tariffs on Chinese goods raised to 125% (later 145%), prompting China’s retaliatory 125% tariffs on US goods, per Reuters and CNBC. Context: The pause followed market turmoil after April 2’s tariff hikes (10% baseline, higher for “unfair” traders), with the S&P 500 dipping 20% into bear territory, per USA Today. The pause sparked a historic rally (S&P 500 +9.5%, Nasdaq +12%, April 9), but volatility resumed, with stocks down 3.5% by April 10, per Reuters. Exemptions: Electronics (smartphones, laptops) got a temporary exemption from China’s 145% tariffs, but Commerce Secretary Howard Lutnick said semiconductor tariffs are coming, per CNN. The pause expires July 8, 2025, unless extended, per Newsweek.