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Donald Trump announces a 90-day pause on higher tariffs for dozens of countries – but hikes levies on China to 125%
There will now be a universal tariff of 10% on all countries’ goods, except for China
He says the higher rate for China is because of “the lack of respect that China has shown to the world’s markets”
Earlier on Wednesday, China announced an 84% tariff on US imports after Donald Trump imposed a 104% tariff on Chinese goods entering the US
Stock markets surged after Trump made his announcement – the president appears to have blinked, writes Natalie Sherman in New York.
(BBC)
