Pauses reciprocal tariff hikes for 90 days while raising China tariffs to 125%

Trump announced a 90-day pause on recently imposed country-specific 'reciprocal' tariff hikes for most trading partners while keeping a baseline tariff in effect and escalating tariffs on China to 125% amid retaliation. The move, implemented through an executive order modifying the reciprocal tariff schedule, underscored the administration’s use of emergency-style tariff authority to swing U.S. trade policy rapidly, creating market volatility and raising costs risks for consumers and businesses.