Reported 9 days ago
U.S. President Donald Trump announced a temporary 90-day pause on certain tariffs affecting a majority of global trading partners while simultaneously increasing tariffs on Chinese goods to 125%. This decision, made in response to recent market volatility, allows for negotiations to potentially reduce trade barriers. Key goods from many countries will face a 10% import tariff instead of the higher rates, while previous tariffs on steel, aluminum, and autos remain intact, and specific sectors like pharmaceuticals may face future tariffs.
Source: YAHOO