US pauses higher tariffs for most countries but hits China harder
President Donald Trump has announced a 90-day pause for countries hit by higher US tariffs but a trade war with China has escalated.
In a dramatic change of policy, just hours after levies against roughly 60 of America’s trading partners kicked in, Trump said he was authorising a universal “lowered reciprocal tariff of 10%” as negotiations continued.
At the same time he increased tariffs on goods from China to 125%, accusing Beijing of a “lack of respect” after it retaliated by saying it would impose tariffs of 84% on US imports.
Pointers from the article:
1. Trump said he was authorising a universal “lowered reciprocal tariff of 10%” as negotiations continue
2. Trump’s latest plans have not affected other recently-announced tariffs already in play.
3. These include the 25% import taxes on cars and car parts coming into the US, which came into effect on 2 April, and a further 25% tariff on all steel and aluminium imports.
4. He increased tariffs on goods from China to 125%
