90-day pause announced on reciprocal tariffs

President Donald Trump announced on Truth Social Wednesday a 90-day pause on reciprocal tariffs, with the exception of products from China.

In his post, Trump stated the reciprocal tariffs will be lowered to 10 percent. Trump did not mention the 25 percent tariffs on imported vehicles or auto parts.  

U.S. Treasury Secretary Scott Bessent, in a press conference, confirmed the pause was for the reciprocal tariffs and not on the individual industry sectors.

Trump did announce a new rise in the tariff placed on goods from China to 125 percent.

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