US President Donald Trump has reduced his so-called "reciprocal" tariffs to 10% for most countries, while at the same time increasing the amount levied on China to 125%, according to Callanish from Trump's social media post.
The latest changes, announced on Wednesday afternoon, suspend the increase in mutual duties for 90 days for countries that have not taken direct retaliatory measures against the United States.
"More than 75 countries have asked representatives of the United States, including the Departments of Commerce, Treasury and USTR, to discuss solutions to the issues under discussion regarding trade, trade barriers, tariffs, currency manipulation and non-monetary tariffs, and what these countries, in my opinion, have not done. a convincing proposal, in response to which the United States is taking any action in any form, I have authorized a 90-day PAUSE and a significantly reduced 10% reciprocal tariff for this period, which also takes effect immediately," Trump announces in his message.
The increase in tariffs on imports from China to 125% also takes effect immediately. Earlier in the day, China announced an increase in its duties on imports from the United States, raising the fee from 34% to 84% (see separate article).
"China's economy is the most unbalanced in the history of the modern world, and it is the largest source of U.S. trade problems, and indeed it is a problem for the rest of the world," said U.S. Treasury Secretary Scott Bessant.
Canada and Mexico are still subject to 25% duties on goods that do not comply with the Agreement between the United States, Mexico and Canada, as well as 25% duties on steel, aluminum and foreign cars.
"The world is ready to work with President Trump to establish global trade, and China has chosen the opposite direction," adds U.S. Commerce Secretary Howard Latnick.
