New york : – US President Donald Trump said on Wednesday he would pause many of his new tariffs for 90 days, even as he raised them further on imports from China.Trump’s sudden reversal came less than 24 hours after steep new tariffs kicked in on imports from dozens of trading partners. The new trade barriers have hammered markets, raised the odds of recession and prompted retaliatory responses from China and the European Union.
Trump said he would raise the tariff on Chinese imports to 125 per cent from the 104pc level that took effect at midnight. At the same time, he said he would lower them on other countries also subject to his new targeted duties.“I have authorised a 90-day pause, and a substantially lowered reciprocal tariff during this period, of 10pc, also effective immediately,” Trump wrote on social media.
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