In a move aimed at easing global trade tensions, U.S. President Donald Trump announced a 90-day pause on “reciprocal” tariffs imposed on Sri Lanka and over 75 other countries.
The decision follows outreach from multiple nations seeking to negotiate on trade-related issues, including tariffs, trade barriers, and currency manipulation.
Despite the pause, a 10 percent tariff will remain in effect during the negotiation period, Trump said. The announcement comes amid a sharp downturn in global stock markets, adding urgency to the administration’s response.
Trump emphasized that the countries benefiting from the pause had refrained from retaliating against the U.S., which he said factored into his decision. However, he made it clear that China would not receive the same relief, citing its decision to retaliate against U.S. tariffs.
As a result, China will continue to face a 125 percent tariff.
The announcement was made via Trump’s TruthSocial platform.
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