Trump hikes China tariffs to 125% but pauses or lowers rates for others

IRNA - U.S. President Donald Trump has increased tariffs on China to 125% from 104%, while he has paused or lowered tariffs on dozens of other countries.

Trump announced the decisions on Wednesday on his social media platform, Truth Social, saying that he raised the United States’ tariffs on China due to “lack of respect” that Beijing has shown to the world’s markets.

“Based on the lack of respect that China has shown to the World's Markets, I am hereby raising the tariff charged to China by the United States of America to 125%, effective immediately,” he said, according to CNBC news channel. 

Earlier in the day, China announced an 84% increase in levies on U.S. imports, effective April 10. Beijing took the measure in retaliation for a 104% tariff rate previously announced by Trump.

The U.S. president also said in the same Truth Social post that he authorized lowered rates and a 90-day pause in tariffs for at least 75 countries that have not retaliated against Washington and reached out to negotiate with American representatives.

“Based on the fact that more than 75 countries have called representatives of the United States, … and that these countries have not, at my strong suggestion, retaliated in any way, shape, or form against the United States, I have authorized a 90-day pause, and a substantially lowered reciprocal tariff during this period, of 10%, also effective immediately,” said Trump.

Following the announcement, Treasury Secretary Scott Bessent spoke with reporters at the White House, saying that the president was always planning to pull back his tariff plans for dozens of countries just days after announcing it.

“This was his strategy all along,” Bessent said, adding that Trump wants to be “personally involved” in negotiations over the tariffs and therefore announced the 90-day pause.

Earlier on Wednesday, the European Union joined China and Canada in imposing retaliatory tariffs on the United States. The E.U. announced 25% rates on U.S. goods, targeting farm produce and products from Republican states. All 27 member states voted for the retaliation, with the exception of Hungary.

Trump announced sweeping universal tariffs days after he began his second term in office on January 20. The measure raised global concerns, with politicians and experts warning of serious risk to economic growth across the world and the possibility of severe shocks to the financial system.

Concerns were also raised about the U.S. economy entering recession after Trump’s tariffs rattled financial markets in recent days.