#TariffsPause In April 2025, President Donald Trump announced that there would likely be no further delays in import tariffs, marking a shift in US trade policy. Previously, Trump had imposed a 'reciprocal' tariff of 10% on all countries, with higher rates for countries with the largest trade deficits with the US. However, this spike in tariffs caused turmoil in financial markets, including a sharp decline in stock and bond markets. In response, Trump announced a 90-day delay for most countries, except China, which remained subject to a tariff of 145%.