BREAKING: Trump pauses tariffs for 90 days on non-retaliating countries, raises tariffs on China to 125% 'effective immediately'

President Donald Trump announced on Truth Social on Wednesday that he is immediately raising tariffs on Chinese goods to 125 percent, citing a “lack of respect” from China toward world markets. 

“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,” the president said. “At some point, hopefully in the near future, China will realize that the days of ripping off the USA, and other Countries, is no longer sustainable or acceptable.”

Trump said that more than 75 countries have engaged in talks with US officials to negotiate on a range of trade issues, including tariffs, trade barriers, and currency manipulation. While he did not make clear what countries he was referring to, he noted that because these countries have not retaliated against the US he has authorized a 90-day pause with a “substantially lowered Reciprocal Tariff during this period, of 10%, also effective immediately.” 

The president also tried to ease concerns regarding the volatility of the stock market following his sweeping tariffs on Wednesday morning. Trump told Americans via Truth Social that "this is a great time to buy" and to "be cool," adding, "Everything is going to work out well. The USA will be bigger and better than ever before."