The US postpones retaliatory tariffs for 90 days, increases tariffs on China to 125%.

According to CNBC, Trump's shift in stance came less than 24 hours after tough retaliatory tariffs took effect on nearly 90 countries. The US leader stated that lowering tariffs to 10% for most of America's trading partners was to facilitate negotiations with these countries.

In a post on the social media platform Truth Social, Trump announced he would increase import tariffs from China to 125%, effective immediately, due to China's lack of respect for the global market.

China, the U.S.'s third-largest trading partner, had previously announced it would increase import tariffs on U.S. goods to 84%.

According to Trump, more than 75 countries have contacted US officials for negotiations after he announced the new tariffs last week. Following the US President's announcement of a temporary suspension of the high retaliatory tariffs, stock indices surged after four days of declines.

When asked about the reason for the 90-day tax deferral, Trump said: "People think I'm going a little overboard... I saw people were a little worried last night, but the bond market is looking great right now."

Finance Minister Scott Besset told reporters that the head of state had always intended to postpone the implementation of the broad tax rate he announced last week. "That has been his strategy all along," Besset said.

On April 2nd, President Donald Trump announced a 10% base tariff on imported goods from over 180 countries. However, a group of approximately 90 countries will face retaliatory tariffs, effective April 9th. These increased tariffs range from 11% to 50%. Financial markets have been in turmoil since Trump announced the tariff plan.