Trump pauses most tariffs, but keeps 10% in place; increases tariff on China to 145%

On Truth Social, US president Donald Trump issued a 90-day reprieve on retaliatory tariffs above the 10% tariff mark on all countries already imposed, except on China. The u-turn happened fewer than 15 hours after the higher tariffs, which included up to 49% tariffs on some countries, had gone into effect.  The 25% US tariffs on foreign cars, aluminium and steel imports still apply.  

Trump has instead increased tariffs on China to 425%, starting immediately after China slapped another 50% tariffs on US goods taking the total to 84%, starting from Thursday, April 10. The US is heavily reliant on Chinese imports and the moves are likely...