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Donald Trump announced a 90-day pause on tariff hikes for most countries, except China, amid market turmoil and recession fears. While countries not retaliating against US tariffs will face a 10% tariff until July, Trump will impose a 125% tariff on Chinese exports immediately. As China prepares to retaliate with 84% tariffs on US goods, tensions escalate with Canada and Mexico also facing new tariffs, leading to significant market fluctuations and concerns from major US companies about economic disruption.
