Trump announces 90-day tariff pause; raises China tariffs to 125%

In yet another flip flop of sorts, US President Donald Trump has suspended his reciprocal tariff policy for 90 days, for non-retaliating countries.

Following the announcement, financial markets experienced a significant surge, with the NASDAQ climbing 9% and the S&P 500 rising 8%.

However, Trump has announced that he would immediately increase tariffs on China to an unprecedented 125%! This comes after China announced 84% retaliatory tariffs on all US goods earlier today.