Trump Announces 90 Day Tariff Pause, Except for China

(Washington, DC) — President Trump is announcing a 90 day pause on some tariffs.

In a post on Truth Social, Trump said he will also lower reciprocal tariffs during this period. The President said the pause is effective immediately. Trump also said he’s raising the tariff charged against China to 125-percent.

Treasure Secretary Scott Bessent said the increase is because China chose to retaliate by raising tariffs on U.S. goods.

Stocks began surging on Wall Street right after Trump made that announcement.