U.S. President Donald Trump has put a 90 day pause on his barrage of reciprocal tariffs on most countries, but has upped the ante when it comes to China.
Trump announced yesterday that he was putting a pause on tariffs for most nations and reducing tariffs on imports from all countries to 10 per cent.
The pause does not apply to all of the president’s levies as the 25 per cent tax on Canadian steel, aluminum and automobiles remains in place.
U.S. President Donald Trump unveils reciprocal tariffs on billboard-style chart at the White House. (C-SPAN)
While most nations got a reprieve from Trump, that wasn’t the case for China, with tariffs on all imports being bumped up to 125 per cent.
Meanwhile, world markets responded quickly to news of the 90 day pause with major gains being reported after stocks took a nose dive in reaction to the initial tariff announcement last week.
