Donald Trump pauses higher tariffs for most countries but increases levies on China

News Snapshot:

United States President Donald Trump on Wednesday reduced the tariffs rate on imports from most countries to 10% for 90 days to provide time for trade negotiations. The pause came hours after the so-called reciprocal tariffs imposed by the US on several countries took effect amid concerns of a broader trade war that could disrupt the global economy and trigger recession. However, the US president said that he was increasing the tariffs imposed on imports from China to 125% with immediate effect, citing the “lack of respect” Beijing had shown to the global markets. “At some point, hopefully in the...