Trump Halts Tariffs for All Countries Except China: All you need to know

President Trump unexpectedly announced a 90-day pause on tariffs for all countries except China, in response to rising concerns about a global recession. While most nations will now face a reduced 10% tariff, the tariff on Chinese goods has been increased to 125%. The decision followed a warning from Treasury Secretary Scott Bessent about growing panic in the bond market. Trump acknowledged that the move was made on the spot to ease market tensions, rather than as part of a broader strategy. The shift marks a significant change in U.S. trade policy amid mounting economic worries.