Trump announced that he authorized a 90 day pause on the lofty tariffs and a “substantially lowered reciprocal tariff during this period, of 10%, also effective immediately” in a post on Truth Social Wednesday afternoon, ending days of speculation around whether or not the tariffs would actually go into effect or were negotiable.

The Trump administration took that formula’s figure, -0.5 for South Korea, and divided it by two to calculate the U.S. “discounted reciprocal” tariff rate. So, while South Korea imposes an effective tariff rate of .79 percent on U.S. goods, the reciprocal tariff rate the U.S. is imposing on South Korea is 25 percent.

President Donald Trump is set to impose an additional 84% in levies across all Chinese imports on Wednesday, White House Press Secretary Karoline Leavitt announced on Tuesday. That will mean all goods from the country are subject to a tariff of at least 104%.

Several new, sweeping taxes on goods from other countries are already here — and more took effect on Wednesday. Trump has promised higher rates for his latest and most severe volley of duties, which he calls “reciprocal” tariffs.

The lack of engagement is one signal the White House is still far from reaching substantive trade deals ahead of the midnight deadline for stepped-up global tariffs to kick in.

Trump is reducing tariffs on imports to 10 percent for all countries except for China, which now has an even higher tariff.

President Donald Trump shared on Truth Social that he has “ authorized a 90 day PAUSE, and a substantially lowered Reciprocal Tariff during this period, of 10%.” Trump also raised the tax rate on Chinese imports to 125%.

U.S. Trade Representative Jamieson Greer addressed the Senate Finance Committee a day after global markets swung wildly and some business leaders lambasted the president's aggressive bid to raise tariffs on almost every nation on earth.

Facing a global market meltdown, President Donald Trump on Wednesday abruptly backed down on his tariffs on most nations for 90 days, but raised the tax rate on Chinese imports to 125%. It was seemingly an attempt to narrow what had been an unprecedented trade war between the U.

Former White House staffer Alyssa Farah Griffin said President Trump was “forced” to introduce a 90 day pause on reciprocal tariffs due to crippling market shares. “Donald Trump said as much

Just days after the president insisted that his trade tariffs were “here to stay” and would “never change," the president announced an unexpected pause.

Despite rattled financial markets, threats of retaliation and some of President Donald Trump’s biggest supporters encouraging him to back off his signature economic policy, he didn’t give in. His administration piled on heaps of new “reciprocal” tariffs Wednesday on dozens of American allies and adversaries alike,

Trump has promised higher rates for his latest and most severe volley of duties, which he calls “reciprocal” tariffs. With so many back-and-forth tariff actions and threats, it can be tough to keep track of where things stand.

From the daily newsletter: how turbulence in the bond market likely inspired the Administration’s change of course.

Several new, sweeping taxes on goods from other countries are already here — and more took effect on Wednesday. Trump has promised higher rates for his latest and most severe volley of duties, which he calls “reciprocal” tariffs.

It was one week after Donald Trump’s big tariff announcement when the president pulled back from the import taxes that he had imposed on many U.S. trading partners.

China's finance ministry has announced an 84% tariff on goods imported from the US, retaliating against recent levies imposed by the White House. The hike in tariffs, from 34%, came after US President Donald Trump's 104% tariff on Chinese goods came into force on Wednesday - they were later increased to 125%.

Facing a global market meltdown, Trump abruptly backed off his tariffs on most nations for 90 days, but raised his tax rate on Chinese imports to 125%.