WASHINGTON: President Donald Trump on Wednesday announced a 90-day pause on his massive tariffs, giving all countries except China a 10 percent baseline, which will see even higher tariffs.
“Based on China’s lack of respect for world markets, I am hereby increasing the tariffs imposed by the United States of America on China to 125 percent, effective immediately,” Trump wrote on Truth Social.
Noting that more than 75 countries have asked for tariff negotiations, Trump said he has “allowed a 90-day pause, and during that period has substantially reduced the reciprocal 10 percent tariff, effective immediately.”
Wall Street stocks surged after U.S. President Donald Trump announced a 90-day pause on tariffs on all countries except China.
Shortly after Trump announced his latest pivot to his Truth Social platform, the S&P 500 jumped 6.0% to 5,281.44, snapping a wild run of losses since Trump announced his “Liberation Day” tariffs a week ago.
ISLAMABAD: The Pakistan Telecommunication Authority (PTA) has issued a warning for mobile phone users against…
ISLAMABAD: Iranian President Dr. Masoud Peshkeskian met President Asif Ali Zardari and Prime Minister Shehbaz…
ISLAMABAD: The government has approved a reduction in advance tax rates on property buyers and…
RAWALPINDI: Chief of Army Staff, Field Marshal Syed Asim Munir, met with Iranian President Masoud…
LAHORE: Following the reduction of petroleum prices, solar panels and batteries witnessed a sharp fall…
ISLAMABAD: State Bank of Pakistan (SBP) has declared a two-day public holiday for Ashura (9th &…