President Donald Trump has announced a 90-day suspension on newly imposed “reciprocal” tariffs for most U.S. trading partners — but China remains the exception.
In a message shared on his social media platform, Trump confirmed that while tariffs on other countries will be lowered during this pause, duties on Chinese imports will be sharply increased.
As of Wednesday, the U.S. will raise tariffs on Chinese goods from 104% to 125%, Trump said, citing what he described as China’s continued unfair treatment of global trade systems. He stressed that the move was in direct response to what he called a pattern of economic exploitation by Beijing, stating that such practices were no longer acceptable.
While tariffs affecting most nations have been put on hold and scaled down to 10% during this period, the 10% universal tariff Trump introduced over the weekend will still apply to all countries not explicitly excluded — meaning the pause does not include all trading partners. Only Canada and Mexico are exempt from this blanket measure.
The announcement comes at a time of market uncertainty, but Trump’s decision to ease trade tensions — at least temporarily — triggered a dramatic response on Wall Street. The Dow Jones Industrial Average surged by 2,200 points, a gain of nearly 6%. The S&P 500 jumped by 6.5%, while the Nasdaq soared by more than 8%, signaling investor relief that the trade environment may not worsen in the immediate term.
However, the sharp hike in tariffs on Chinese goods signals that tensions between Washington and Beijing remain high. Trump’s tough stance on China has been a consistent theme throughout his political career, and this latest move suggests he is doubling down on that message, even while offering some breathing room to other U.S. allies.
The 90-day pause provides an opportunity for trade partners to re-engage in talks or adjust to the shifting policies. But it also creates a window of uncertainty for businesses and governments alike, particularly as Trump has not ruled out resuming or increasing tariffs once the pause ends.
With the election cycle heating up and trade policy playing a central role in Trump’s economic agenda, all eyes will be on how the U.S.–China trade dynamic unfolds — and whether this tariff freeze will turn into a longer-term policy shift or simply a brief tactical move.