Sri Lanka, April 10 -- President Donald Trump has announced a 90-day pause on increased tariffs for countries hit by recent US levies, while dramatically escalating the trade conflict with China.
In a major shift, Trump said he was authorising a universal "lowered reciprocal tariff of 10%" as trade talks continued. The announcement came just hours after heightened tariffs against nearly 60 US trading partners took effect.
However, Trump simultaneously raised tariffs on Chinese goods to 125%, accusing Beijing of a "lack of respect" following its move to impose 84% tariffs on US imports in retaliation.
The developments come a week after Trump unveiled sweeping import taxes on all goods entering the US - the most significant shake-up in i...
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