President Trump has announced a 90-day suspension of new reciprocal tariffs on over 75 countries, imposing a flat 10% import duty – 25% on vehicles.
Canada and Mexico are exempt under USMCA. China, notably excluded, now faces a massive 125% tariff due to its “unfair trade practices.”
In response, Beijing has imposed 84% tariffs on U.S. goods. Markets reacted positively, with the S&P 500 jumping 9.5%.
Treasury Secretary Scott Bessent confirmed the pause is to allow customised trade deals.
The sharp China escalation underscores Trump’s hardline strategy to reshape global trade on America’s terms.
