New Delhi, April 9 -- US President Donald Trump on Wednesday announced that he had authorised a 90-day pause, and a lowered Reciprocal Tariff of 10% during the three months of truce amid trade wars induced market meltdown. President Trump also announced that US had hiked China tariffs to a whopping 125%.

'No other president would have done what I did. Somebody had to do it.' Trump justified his tariff offensive to reporters on Wednesday.

"Based on the lack of respect that China has shown to the World's Markets, I am hereby raising the Tariff charged to China by the United States of America to 125%, effective immediately. At some point, hopefully in the near future, China will realize that the days of ripping off the U.S.A." Donald Trump...