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Trump pauses "reciprocal tariffs" for 90 days, raises China rate to 125%

Trump pauses "reciprocal tariffs" for 90 days, raises China rate to 125%

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Trump has paused tariff hikes for most countries for 90 days, keeping a flat 10% rate during that time to allow for new trade deals. However, he raised tariffs on Chinese imports to 125%, citing unfair treatment. China hit back with 84% tariffs on U.S. goods. Markets surged despite fears of a deeper U.S.-China trade war.

Donald Trump
Republican Party
1. I believe if I hadn't become your president, I believe this country would have had problems like it's never had before.
2. We're doing very well in making, I call them tailored deals, not off the rack. Right now, Japan is flying here to make a deal, South Korea is flying here to make a deal, and others are flying here.
3. We're going to put tariffs on the pharmaceutical companies, and they're going to all want to come back.
4. I thought that people were jumping a bit out of line … they were getting a little bit yippy, a little bit afraid.
5. BE COOL! Everything is going to work out well. The USA will be bigger and better than ever before!
6. I did a 90-day pause for the people that didn't retaliate because I told them 'if you retaliate, we're going to double it' - and that's what I did with China.
Ngozi Okonjo-Iweala
World Trade Organization
1. Our assessments, informed by the latest developments, highlight the substantial risks associated with further escalation.
2. The escalating trade tensions between the United States and China pose a significant risk of a sharp contraction in bilateral trade.
Kevin Hassett
White House National Economic Council
1. Even if you think there will be some negative effect from the trade side, that's still a small share of GDP.
2. I think the president is gonna decide what the president gonna decide. There are 50 countries in negotiation with the president.
Lawrence Wong
1. These measures will accelerate the fracturing of the global economy.
Lin Jian
Chinese Ministry of Foreign Affairs
1. If the US truly wants to resolve issues through dialogue and negotiation, it should adopt an attitude of equality, respect and mutual benefit.
Scott Bessent
US Treasury Department
1. I think it's unfortunate that the Chinese actually don't want to come and negotiate, because they are the worst offenders in the international trading system.
2. That is the big win here. The US is trying to rebalance toward more manufacturing. China needs to rebalance towards more consumption.
Devin Nunes
Trump Media & Technology Group
1. Truth Social and Truth+ are now fully open for business in Canada and Mexico.
Niall Ferguson
1. Americans will come to miss globalism and policing the world.