On April 9, 2025, President Donald Trump announced a 90-day pause on tariffs for most countries, effective immediately, while maintaining a universal 10% tariff rate during this period. This decision excludes China, where tariffs were simultaneously increased to 125%, citing China’s “lack of respect” for global markets. The move follows Trump’s earlier imposition of a 10% baseline tariff on all imports starting April 5, with higher “reciprocal” tariffs on select nations effective April 9. The pause comes after over 75 countries reportedly reached out to negotiate trade solutions, prompting Trump to lower the reciprocal tariffs to 10% temporarily to facilitate discussions. This shift has been interpreted as a response to global economic pressure and market volatility, with U.S. stocks surging after the announcement. Treasury Secretary Scott Bessent emphasized Trump’s intent to reward non-retaliatory nations, while Commerce Secretary Howard Lutnick highlighted a willingness to “fix global trade” with cooperative partners, contrasting this with China’s stance.
