Trump pauses tariffs

President Donald Trump on Wednesday announced a 90-day pause of the higher tariffs against 60-odd trading partners that went into effect earlier today, with the exception of China — an abrupt reversal of his market-rattling trade policy.

Trump, in a Truth Social post, said he plans to keep the administration’s global baseline tariff increase of 10 percent in place for all countries.

But tariffs he imposed on China will continue to rise, Trump wrote, increasing to 125 percent, due to Beijing’s continued retaliation.