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Trump pauses tariffs for 90 days but hits China harder
Cape Argus
|April 10, 2025
US President Donald Trump abruptly backed down yesterday in his global trade war with a 90 day pause for most countries, but slapped even more levies against China in what has become a full-scale confrontation between the world's two largest economies.
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Following days of global market turmoil, Wall Street stocks surged in reaction to Trump's announcement.
"I have authorised a 90 day PAUSE" on higher tariffs that took effect yesterday, Trump said on his Truth Social network, saying he took the decision after more than 75 countries had reached out to negotiate and did not retaliate against the United States.
Only a flat rate of 10% tariffs on all countries that took effect on Saturday will remain in place. This marked a stunning reverse from often punishing levies that hit even many of the closest US allies.
But Trump accused China of still "ripping off" his country.
This story is from the April 10, 2025 edition of Cape Argus.
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