'No Hint of an Off-Ramp' for US-China Tariffs: Enda Curran
April 9, 2025
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8:30Now Playing'No Hint of an Off-Ramp' for US-China Tariffs: Enda Curran
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as posted by the channelPresident Trump increased tariffs on China again Wednesday afternoon at the same time he temporarily paused higher tariffs on most other countries. Bloomberg Senior Economics Reporter Enda Curran breaks down what the move means for the US-China relationship.
President Donald Trump announced a 90-day pause on higher reciprocal tariffs that hit dozens of trade partners after midnight, while raising duties on China to 125%.
The president’s about-face comes roughly 13 hours after higher reciprocal duties on 56 nations and the European Union went into effect, a move that fueled market turmoil and stoked recession fears. Trump came under massive pressure from business leaders and investors to reverse course.
“I have authorized a 90 day PAUSE, and a substantially lowered Reciprocal Tariff during this period, of 10%, also effective immediately,” Trump posted Wednesday on social media.
Countries that were hit with the higher, reciprocal duties that went into effect Wednesday will now be taxed at the earlier 10% baseline rate applied to other nations, with the exception of China, according to a White House official. Trump said that more than 75 countries had contacted his administration to negotiate on trade barriers and “have not, at my strong suggestion, retaliated in any way, shape, or form.”
Trump’s decision to raise import taxes even further on China came after Beijing announced plans to retaliate with an 84% duty on American goods set to begin Thursday. The Trump administration has taken particular aim at China over its trade practices and its combative approach to the president’s tariff plans.
“Based on the lack of respect that China has shown to the World’s Markets, I am hereby raising the Tariff charged to China by the United States of America to 125%, effective immediately,” Trump said in a social media post.
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