The markets have finally received some relief today, with US President Donald Trump this afternoon indicating that he has authorized a pause on recently imposed tariffs. The pause is set to apply to non-retaliating countries, meaning major markets like China are left out of the relief.
Specifically, reports have suggested that the pause applies to both reciprocal tariffs, as well as the 10% minimum tariffs imposed by the US last Saturday.
At the same time, tariffs on China have been raised yet again to 125%, up from the 104% rate that went into effect this morning. The latest raise follows China retaliating to the increased tariff by announcing a tariff rate of 84% on US-sourced goods as of Thursday.
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The latest round of tariffs against China are said to be effective immediately.
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