#Tariffs In April 2025, President Trump announced a 90-day pause on most U.S. “reciprocal” tariffs, reducing the baseline rate to 10% for goods from most countries, except China (145% tariff), effective until July 9, 2025. This followed market turmoil and requests from over 75 countries to negotiate trade deals. Key points:

✅Purpose and Scope: The pause excludes 25% tariffs on steel, aluminum, and autos and aims to spur trade talks. Electronics like smartphones and laptops are exempt retroactively from April 5.

✅Negotiations: South Korea, India, Cambodia, Indonesia, the UK, and Switzerland are negotiating deals, but China denies talks despite hints of de-escalation. The EU and Japan criticize unclear U.S. goals.