RELIEF AS TRUMP PAUSES GLOBAL TARIFFS

US president announces a 90-day pause on his sweeping tariffs, giving all countries a 10% baseline except China

-  ASHLEY LECHMAN and SE-ANNE RALL

IN A bold move, US President Donald Trump announced on Truth Social that the tariff rate on Chinese goods would be raised to an unprecedented 125%, effective immediately.

He justified the drastic increase, claiming it was in response to the "lack of respect China has shown the World's Markets." The announcement sparked a swift reaction from China, which, just hours earlier, had declared it would retaliate by raising its own tariffs on US goods to 84%, effective the following day.

Trump's post also revealed a 90-day tariff pause for over 75 countries, an effort to encourage trade partnerships with nations that had previously negotiated with the U.S. This escalation in the ongoing trade war with China marks a new chapter in global economic tensions, with markets bracing for the potential fallout as both nations prepare for further economic battles.

Hours after new tariffs imposed by Trump on various South African goods came into play.

When Trump announced the new tariffs last week, South Africa was placed in the "worst offenders" category and hit with a 30% tariff on exports to the US.