President Donald Trump’s sweeping new tariffs on America’s trading partners took effect on Wednesday.
At about 12:30 p.m. CST, Trump announced a 90-day pause on tariffs, except for China, which he has since raised to 125%.
Treasury Secretary Scott Bessent later old reporters that President Trump was pausing his so-called ‘reciprocal’ tariffs on most of the country’s biggest trading partners, but maintaining his 10% tariff on nearly all global imports.
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Tariff pause live updates: Trump hikes China tariffs further, lowers all others
Trump’s sweeping new tariffs took effect on Wednesday morning, but by the afternoon, nearly all of them were lowered and paused -- except for China, which he hit with a 125% import tax.