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Trump announces 90-day suspension of reciprocal tariffs for 75 countries
(MENAFN) On Wednesday, US President Donald Trump announced a 90-day suspension of reciprocal tariffs for 75 countries, reducing them to 10%. At the same time, he intensified the trade war with China, raising tariffs on Chinese goods to 125%, up from the previous 104%. This move follows China’s own tariff hike to 84% on American products, in retaliation for the US’s earlier tariff increases.
Trump justified the escalation by accusing China of disrespecting global markets, stating that China would eventually recognize that its past trade practices were unsustainable. The 10% baseline tariff does not apply to Mexico and Canada, as car manufacturers and steel and aluminum producers in both countries will continue to face the 25% tariffs previously imposed by the Trump administration.
Trump justified the escalation by accusing China of disrespecting global markets, stating that China would eventually recognize that its past trade practices were unsustainable. The 10% baseline tariff does not apply to Mexico and Canada, as car manufacturers and steel and aluminum producers in both countries will continue to face the 25% tariffs previously imposed by the Trump administration.
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