President Trump announced a 90-day pause on new tariffs for most countries, keeping general import duties at 10%. However, he sharply raised tariffs on Chinese goods to 125%, citing unfair retaliation and disrespect from Beijing. The move came after a record stock market rally, which Trump celebrated as proof of his strategy’s success.
Over 75 countries are now seeking individual trade deals with the U.S., while key allies like Canada and Mexico are exempt from the hikes. Meanwhile, China’s counter-tariffs, now at 84%, could impact major U.S. industries like agriculture, aerospace, and tech.