U.S. President Donald Trump has announced a 90-day pause on his sweeping tariffs targeting dozens of countries only days after they took effect.
But the truce doesn’t extend to China. Instead, Trump raised duties on Chinese imports to 125 percent, effective immediately, citing Beijing’s “lack of respect” for global markets.
The announcement followed the economic shock triggered on April 2, when Trump’s retaliatory tariffs, unveiled on what he dubbed “Liberation Day’” sent tremors through the global economy.