TOKYO -- U.S. President Donald Trump abruptly reversed course on the steep "reciprocal tariffs" that recently rattled global markets, announcing a 90-day pause on the additional country- and region-specific levies just 13 hours after they were imposed on April 9.
While maintaining a blanket 10% tariff on imports from nearly all U.S. trading partners, Trump notably excluded China from the temporary pause. Beijing swiftly retaliated by raising tariffs on U.S. imports, prompting Trump to escalate the dispute further by again raising duties on Chinese goods. Meanwhile, the rest of the world was granted a brief reprieve to deal with Trump's tariff policy.
