Trump pauses tariffs on most nations for 90 days, raises taxes on Chinese imports
President Donald Trump arrives at the annual St. Patrick's Day luncheon at the Capitol in Washington, Wednesday, March 12, 2025. (AP Photo/J. Scott Applewhite)
WASHINGTON (AP) — Facing a global market meltdown, President Donald Trump on Wednesday abruptly backed down on his tariffs on most nations for 90 days, but raised his tax rate on Chinese imports to 125%.
It was seemingly an attempt to narrow what had been an unprecedented trade war between the U.S. and most of the world to one between the U.S. and China.
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