U.S. President Donald Trump has announced a 90-day suspension of newly imposed reciprocal tariffs on all countries except China. He made the announcement on Wednesday, April 9.
However, Trump stated that the total tariff on Chinese goods would increase from 104% to 125%. Just last week, the U.S. had imposed a 37% reciprocal tariff on Bangladeshi products.
Posting on his social media platform Truth Social, Trump wrote, “Based on China’s continued disrespect toward the global market, I am raising the tariff on Chinese goods to 125%, effective immediately.”
He added, “Hopefully, China will soon realize that exploiting the U.S. and other countries will no longer be tolerated.”
Regarding the suspension of tariffs on other countries, Trump explained, “More than 75 countries have invited U.S. trade representatives to discuss trade barriers, tariffs, currency manipulation, and non-financial barriers. Based on my strong recommendation, these countries have refrained from taking retaliatory actions against the U.S. Therefore, I have suspended tariffs for 90 days and reduced the reciprocal tariff rate to 10%, effective immediately.”
However, countries that previously had duty-free access to the U.S. market will no longer enjoy that privilege. All countries must now pay at least a 10% tariff on goods exported to the U.S. Bangladeshi products already face an average tariff of 15%.