United States President Donald Trump said on Wednesday that it will limit reciprocal rates to 10% for a period of 90 days.
At the same time, he announced that he would increase rates on China to 125%, intensifying his retaliation with Beijing.
Trump stated that he “authorized a 90 -day break and a substantially reduced reciprocal tariff during this period of 10%, also with immediate effect.”
In the same message, Trump said he was increasing US tariffs over China while working to bring Beijing to the negotiating table.
“Based on the lack of respect that China has demonstrated to world markets, I am increasing China’s tariff by the United States to 125%, with immediate effect. At some point, I hope that in the near future, China will realize that the days of exploration of US and other countries are no longer sustainable or acceptable,” he wrote.
*Update
