A week after announcing reciprocal tariffs to its trading partners on a 10% basis, U.S. President Donald Trump announced a 90-day pause and a substantial lowering of tariffs immediately.

The above is because more than 75 countries have requested negotiations with the White House to reach agreements.

“Whereas more than 75 countries have called representatives of the United States, including the Departments of Commerce, Treasury and the United States Trade Representative (USTR), to negotiate a solution to the issues under discussion regarding trade, trade barriers, tariffs, currency manipulation and non-monetary tariffs, and these countries have not retaliated in any way against the United States, at my behest, I have authorized a 90-day PAUSE and a substantial reciprocal tariff reduction during this period, of 10%, also effective immediately,” Trump announced.

On the other hand, the president will stiffen China's tariffs with a 125% hike “based on the disrespect China has shown to world markets.”

China responded today with an 84% tariff on U.S. goods starting at noon on Thursday.

The U.S. President announced the decision through Social Media.

The White House | @WhiteHouse

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