UPDATE: |Donald Trump announces 90-day pause on all higher tariffs except for one country News

The President halted his tariffs after a huge reaction from the global markets on Wednesday

US President Donald Trump has announced a 90-day pause on all tariffs, except for China.

It comes after the global economy appeared to be in open rebellion against the measures as they took effect on Wednesday (April 9).

US treasury secretary Scott Bessent told reporters that Mr Trump was pausing his so-called “reciprocal” tariffs on most of the country’s biggest trading partners, but maintaining his 10% per cent tariff on nearly all global imports.

Imports tariffs on goods from China, though, would surge to 125% “effective immediately” Mr Trump said on social media.

The latest news has seen the Dow Jones jump 1,800 points – but the precise details of Mr Trump’s plans to ease tariffs on non-China trade partners are not immediately clear.

Mr Trump’s tariffs kicked in shortly after midnight in the US, including 104% on products from China, 20% on the European Union, 24% on Japan and 25% on South Korea.

But a number of the US’ top trading partners retaliated with their own import taxes.

This is a breaking news story. More information will follow shortly…

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