Trump tariffs updates: President decided to pull reciprocal tariffs 'this morning'
Last updated: Thursday, April 10, 2025 2:00AM GMT
In a dramatic move Wednesday, President Donald Trump says he has authorized a 90-day pause in the higher tariffs for most countries he announced last week - while maintaining a 10% baseline tariff across the board.
In a dramatic move Wednesday, President Donald Trump says he has authorized a 90-day pause in the higher tariffs for most countries he announced last week - while maintaining a 10% baseline tariff across the board.
Treasury Secretary Scott Bessent told reporters, "It took great courage, great courage for him to stay the course until this moment," reiterating what he mentioned a week ago, "do not retaliate, and you will be rewarded."
The pause would not apply to China - on which Trump said he was raising the U.S. tariff to 125% because, unlike other countries, Bessent said, it was unwilling to make a deal.
Trump announces 90-day 10% reciprocal tariff rate and increased 125% tariff rate on China
President Donald Trump has announced that countries subject to reciprocal tariffs will have a lowered 10% rate for 90 days, according to a new social media post.
This does not apply to China, which Trump says is now subject to a 125% tariff rate following their retaliatory tariff announced earlier Wednesday.
President Donald Trump speaks during an event on energy production in the East Room of the White House, Tuesday, April 8, 2025, in Washington.
"Based on the lack of respect that China has shown to the World's Markets, I am hereby raising the Tariff charged to China by the United States of America to 125%, effective immediately," Trump wrote.
Apr 09, 2025, 6:35 PM GMT
Treasury secretary says Trump reversal on reciprocal tariffs isn't because of market tumult
Treasury Secretary Scott Bessent and White House press secretary Karoline Leavitt took some reporter questions outside the White House shortly after President Donald Trump announced a pause on some tariffs for countries except China.
"The 90-day pause on the reciprocal tariffs, is that because of the whiplash that we've been seeing across the financial markets? How much was what we saw in the stock markets a part of this decision?" a reporter asked.
Treasury Secretary Scott Bessent speaks to reporters outside the West Wing of the White House, Wednesday, April 9, 2025, in Washington, with press secretary Karoline Leavitt.
"No," Bessent replied, "it's because of the large number of inbounds -- we've had more than 75 countries contact us, and I imagine after today, there will be more."
Apr 09, 2025, 6:08 PM GMT
Trump announces 90-day 10% reciprocal tariff rate and increased 125% tariff rate on China
President Donald Trump has announced that countries subject to reciprocal tariffs will have a lowered 10% rate for 90 days, according to a new social media post.
This does not apply to China, which Trump says is now subject to a 125% tariff rate following their retaliatory tariff announced earlier Wednesday.
President Donald Trump speaks during an event on energy production in the East Room of the White House, Tuesday, April 8, 2025, in Washington.
"Based on the lack of respect that China has shown to the World's Markets, I am hereby raising the Tariff charged to China by the United States of America to 125%, effective immediately," Trump wrote.
ByFritz Farrow
Apr 09, 2025, 5:21 PM GMT
Illinois Republican expresses concerns about tariff impact for farmers
Rep. Darin LaHood, an Illinois Republican, expressed concerns about the impact of President Donald Trump's tariffs on farmers and the agriculture industry.
"As I talk to my farmers, there's a lot of anxiety, a lot of stress, a lot of uncertainty because when we get into a trade war, usually the first pawn in the trade war is agriculture," LaHood told U.S. Trade Representative Jamieson Greer. "And as we look at the timeline and chronology moving forward, Ambassador Greer, what would you tell my farmers in terms of that uncertainty and anxiety that they're feeling right now?"
Rep. Darin LaHood, R-Ill., questions witnesses during a hearing of a special House committee dedicated to countering China, on Capitol Hill, Tuesday, Feb. 28, 2023, in Washington.
Greer did not answer directly, instead saying not all countries have said they will retaliate against the U.S.
Apr 09, 2025, 5:01 PM GMT
Trade representative says he's met with counterparts from EU, South Korea, Ecuador and Mexico
Some Republican members of the House Ways and Means Committee pressed U.S. Trade Representative Jamieson Greer on what is the administration's game plan with its sweeping tariffs that went into effect.
"Now there's this discussion about be doing some trade deals. What does that mean? What is that process?" Florida Rep. Vern Buchanan asked Greer.
Greer responded that Trump is open to negotiating with countries that want "reciprocal" trade and to reduce deficits. Buchanan followed up by pressing for more details on the process going forward, which Greer didn't directly answer but said some long-term negotiations with other countries "might require, you know, congressional action."
Greer added that he had meetings on Tuesday with his counterparts from the European Union, South Korea, Ecuador, and Mexico.
