Trump tariffs: 90-day pause announced for most tariffs; China tariffs increase

On Wednesday, Trump announced a 90-day pause on tariffs, except for China, which he has since raised to 125%. Treasury Secretary Scott Bessent later told 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.