Trump temporarily drops tariffs to 10% for most countries

U.S. President Donald Trump holds up a chart while speaking during a “Make America Wealthy Again” trade announcement on April 2, 2025 in Washington, DC. President Donald Trump on Wednesday dropped new tariff rates on imports from most U.S. trade partners to 10% for 90 days to allow trade negotiations with those countries. Trump announced the pause hours after goods from nearly 90 nations became subject to stiffer, so-called reciprocal tariffs imposed by the United States. The president also said in a social media post that he was raising the tariffs imposed on imports from China to 125% "effective immediately" due to the "lack of respect that China has shown to the World's Markets." China, which is the U.S.'s third-largest trading partner, earlier Wednesday said it would increase its tariff rate for imports from the U.S. to 84%. Trump said "more than 75 Countries" contacted U.S. officials to negotiate after he unveiled his new tariffs last week. Stock market indices rocketed shar ... Read full article.