US President Donald Trump took a step back from his international trade conflict on Wednesday and announced a 90-day pause for some tariffs that have just come into force.
On his Truth Social platform, Trump wrote that he had “authorized a 90 day PAUSE” on tariffs, with the exception of those on China.
Instead, he said, a universal customs rate of 10% would apply during the three-month break, effective immediately.
Trump said he had made this decision “based on the fact that more than 75 Countries have called Representatives of the United States, including the Departments of Commerce, Treasury, and the USTR, to negotiate a solution to the subjects being discussed relative to Trade, Trade Barriers, Tariffs, Currency Manipulation, and Non Monetary Tariffs.”
He praised the countries in question for not having retaliated “in any way, shape, or form against the United States.”