Trump will pause tariffs for 90 days, but not for China : NPR

President Trump on Wednesday mentioned on social media that he would pause tariffs on most international locations for 90 days however would instantly hike tariffs on China to 125%.

White Home press secretary Karoline Leavitt advised reporters on the White Home that tariffs can be introduced all the way down to a “common 10%” stage throughout the 90-day pause, except for China.

Treasury Secretary Scott Bessent advised reporters, “It took nice braveness — nice braveness — for him [Trump] to remain the course till this second.”

Bessent mentioned China was the “greatest supply” of commerce points for the USA and the remainder of the world.

“I am not calling it a commerce warfare, however I am saying that China has escalated, and President Trump responded very courageously to that, and we’re going to work on an answer with the our buying and selling companions,” he mentioned.

Bessent mentioned the choice to pause tariffs was not made due to the sharp decline within the inventory market, insisting the pause was wanted to come back to “bespoke” commerce preparations with different international locations.

“It’ll take a while, and President Trump needs to be personally concerned. In order that’s why we’re getting the 90-day pause,” he mentioned.

Bessent mentioned {that a} vary of points can be on the desk throughout talks with different international locations, together with liquefied pure gasoline (LNG) offers, non-tariff commerce boundaries, forex insurance policies and subsidies. He mentioned he has a gathering with Vietnamese officers immediately.

“These are difficult negotiations. These are imbalances which have taken a long time to create,” he mentioned.

Bessent advised reporters that Trump had made his determination on Sunday. “This was pushed by the president’s technique. He and I had a protracted speak on Sunday, and this was his technique all alongside.”