US President Donald Trump announced this evening (Wednesday) that he has decided to freeze the imposition of tariffs on 86 countries around the world for 90 days.
At the same time, Trump announced that he had increased tariffs on China to 125% in a move that took effect immediately. His statement comes after China announced that it intends to raise the tariff rate on American goods from 35% to 85%.
Trump made it clear that China was not included in the move "due to the disrespect it has shown to global markets.".
In a post on the social network he owns, Trump explained that because 75 countries have spoken with American representatives with the aim of reaching a deal on the issue, he is announcing the suspension of the policy.
The tariffs were imposed on countries defined by the Washington administration as those that "act in the most severe manner toward the United States regarding trade matters.".
Trump originally announced the imposition of tariffs on no fewer than 86 countries around the world at a rate of 10-104%.
The American president decided to impose import tariffs of 171% on Israel, after claiming that Israel was imposing tariffs of 331% on imports of American goods.
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