125% Tariff on China, 90-Day Halt on Reciprocal Tariffs: Key Highlights of Trump’s Announcements

Amid fears of a global market crash, President Donald Trump unexpectedly paused tariffs on most countries for 90 days on Wednesday, while sharply increasing the tariff on Chinese imports to 125%. The move appeared to shift the focus of the ongoing trade war—previously involving much of the world—into a direct standoff between the U.S. and China. Following the announcement, the S&P 500 surged 9.5%, though uncertainty around Trump's tariff policy remains, as the administration now plans to enter into individual negotiations with various countries. During the pause, those nations will face a reduced 10% tariff. Speaking from the Oval Office, Trump said the decision came together "fairly early this morning" with his advisors and described it as something "written from the heart."