WASHINGTON—M10News | President Donald Trump has announced a 90-day pause on his newly introduced “reciprocal” tariff plan, following outreach from over 75 countries seeking one-on-one trade negotiations.
But he sharply escalated duties on Chinese imports to 125%, accusing Beijing of showing a “lack of respect” for global markets.
In a Wednesday Truth Social post, Trump confirmed that most tariffs would be temporarily reduced to a flat 10%, effective immediately.
This would give his administration until July 8 to negotiate custom trade deals with individual nations. However, the move excluded China, which faced a dramatic hike in tariff rates following retaliatory actions against the U.S.
“I have authorized a 90-day PAUSE, and a substantially lowered Reciprocal Tariff during this period, of 10%, also effective immediately,” Trump posted, triggering a strong rebound in U.S. stock markets after a turbulent week that followed his “Liberation Day” trade announcement.
Trump explained that the decision was prompted by significant diplomatic outreach. “More than 75 countries” had expressed interest in negotiating direct, country-specific agreements with the United States, he claimed.
During the pause, Treasury Secretary Scott Bessent confirmed that even the initially exempt North American allies like Mexico and Canada would be included in the 10% tariff rate. Speaking outside the White House, Bessent said the administration aims to finalize tailor-made deals with interested nations by summer.
China, however, was singled out. Trump criticized the Asian superpower for retaliating with equal tariffs and accused Beijing of undermining market stability.
“Based on the lack of respect that China has shown to the World’s Markets, I am raising the tariff charged to China by the United States of America to 125%, effective immediately,” he wrote. “At some point, hopefully shortly, China will realize that the days of ripping off the U.S. and other countries are no longer sustainable or acceptable.”
Bessent dismissed suggestions that the tariff pause was a reaction to Wall Street’s losses, which saw trillions erased from the markets over the past four trading sessions. “This was his strategy all along,” he insisted. “You might even say that he goaded China into a bad position… They responded and have shown themselves to the world as bad actors.”
He described the president’s decision as a power play: “Trump created maximum negotiating leverage,” adding that the former president “wants to be personally involved” in future trade discussions.
Bessent also revealed he was scheduled to meet with a Vietnamese delegation later Wednesday to negotiate down a looming 46% tariff and had discussed Japan’s 24% rate during a diplomatic event at the Japanese Embassy the night before. Bessent declined to comment when asked why the European Union would enjoy the lower 10% tariff despite imposing retaliatory duties earlier that day.
A senior administration official told M10News that the temporary pause was likely Trump’s solo decision rather than advice from any specific adviser. “It’s ‘The Art of the Deal, ‘” the official remarked, referencing Trump’s 1987 bestseller.
That dealmaking spirit was on full display earlier in the week when Israeli Prime Minister Benjamin Netanyahu left the White House with a signed copy of the book, after reportedly pledging to eliminate Israel’s trade surplus and remove all barriers to U.S. goods.
