US President Donald Trump Suspends Several New Tariffs for 90 Days, Raises Tariffs on Chinese Goods by 21%, Bringing Total to 125%.
According to foreign news agencies *Reuters* and *AFP*, US President Donald Trump’s decision comes less than 24 hours after the heavy tariffs he had imposed on his trade partners came into effect.
Trump’s new trade measures have shaken global markets and heightened fears of a recession, while also forcing China and the European Union to take retaliatory actions.
In a social media post, Trump wrote, “We are raising tariffs on Chinese imports from 104% to 125%.”
In the same post, Trump also announced that specific tariffs imposed on other countries would be reduced.
He wrote, “I have paused the new tariffs for 90 days; however, the minimum imposed tariff of 10% will take effect immediately.”
He stated that more than 75 countries have contacted the US for negotiations regarding the tariffs—these are countries that have not taken retaliatory steps against the United States.
Following this announcement by Trump, the US stock market surged sharply.
Before that, China and the European Union had announced new trade restrictions on American products in response to Trump’s heavy tariffs, further escalating the trade war.
European Union Imposes Retaliatory Tariffs on the US
The European Union announced that, as part of the first phase of retaliatory actions, it would impose a 25% tariff on American imports.
The European bloc listed several American products that would face these additional tariffs, including soybeans, fruits, timber, motorcycles, and beauty products.
It should be noted that the 27-member European Union had been subjected to 20% tariffs on most of its products by the US, with even higher rates on auto and steel imports.
Even the US’s close ally and major trade partner Canada has implemented retaliatory measures starting today.
From Japan to Madagascar, dozens of countries began facing heavy tariffs from Trump starting today, marking yet another step toward dismantling the decades-old global trade system.
According to various estimates, the average tariff in the world’s largest consumer market has now exceeded 20%, compared to just 2.5% before Trump took office.
China Hits Back at the US
On Wednesday, China’s Ministry of Finance announced an 84% tariff on American products, further intensifying the global trade war initiated by Donald Trump.
It is worth noting that Trump had previously imposed a total of 54% tariffs on Chinese imports (20% initially, followed by an additional 34%). In response, China had announced an additional 34% tariff on all American imports.
Later, after Trump imposed 50% new tariffs, China responded with more tariffs on US goods, bringing the total to 84%. In response, Trump has now imposed an additional 21% tariff on China, raising the total to 125%.
Beijing has consistently opposed the tariff increases and issued a statement this morning saying it will take “firm and effective” measures to protect its interests.
In a statement released by China’s Ministry of Finance, it was said that the US’s tariff hikes against China are essentially compounding mistakes and represent a serious violation of China’s legitimate rights and interests.
On the other hand, US Treasury Secretary Scott Besant called China’s new tariffs “unfortunate” in an interview with Fox Business Network.
He stated, “Their economy is the most unbalanced in modern world history, and I can tell you that this tension will prove harmful for them.”
