Donald Trump tariff war: 90-day pause on higher tariffs announced, China hit with 125 per cent rate

US President Donald Trump has escalated a trade war with China by imposing a 125 percent tariff on Chinese imports, while granting a 90-day pause on higher tariffs for other countries. Trump cited China’s lack of respect for global markets as the reason for the increased tariff, despite calling Chinese President Xi his “friend.” The announcement led to a surge in US stock indexes and a rebound in the dollar, with China and the EU responding with their own trade barriers on US goods.

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