Just hours after implementing tariffs of varying levels on trade partners worldwide, President Donald Trump said he would pause the “reciprocal” import taxes for 90 days.
In a post on Truth Social, Trump said the pause on the deficit-based tariffs would be effective immediately, and a base tariff of 10% would be enforced. Trump said he felt the pause was needed because “more than 75 countries” had contacted his administration to make trade deals.
“Each one of these solutions is going to be bespoke; it’s going to take some time … so that’s why we’re doing the 90-day pause,” Treasury Secretary Scott Bessent said at a press conference after Trump’s post.
The widespread tariffs of varying degrees on trading partners worldwide went into effect just after midnight Wednesday. The “reciprocal” tariffs included 20% on goods from the European Union, 32% on Taiwan, 24% on Japan, and 25% on Vietnam.
Bessent said the base tariff also applies to Mexico and Canada, which were not included in the original round of “reciprocal” tariffs announced a week ago. Trump’s post also said that China would not receive a reprieve and tariffs on the country would increase to 125%.
UPDATE—This story has been updated with additional information.
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