US President Donald Trump offered a 90-day pause in previously announced tariff rates for 75 nations that offered to negotiate with the US to lower tariffs and remove other obstacles facing US exporters, according to an announcement on the president’s social media on Wednesday April 9.
The US imposed tariffs on all trading nations on April 2, a day called “Liberation Day” by Trump, in a negotiating strategy designed to give the US “maxmum leverage” and bring trading partners to the negotiating table, Treasury Secretary Scott Bessent said in a press event following the announcement.
The temporary pause in the tariff rates was provided because several nations offered to negotiate and because trade negotiations “take time,” and the US wants to give each nation the time needed to find a “bespoke” solution, Bessent said.
Participating nations will have temporary tariffs of 10 percent placed on them, effective immediately — substantially lower than the tariff rates announced a week earlier.
In the same social media post announcing the tariff pause, Trump raised the US’ total tariffs on China to 125%, after China imposed a second retaliatory tariff.
“China will realize that the days of ripping off the USA and other countries is no longer sustainable or acceptable,” Trump wrote.
Bessent echoed the president’s view, stating, “China is the most imbalanced economy in the history of the modern world, and they are the biggest source of US trade problems and, indeed, they are problems for the rest of the world.”
China’s neighboring countries have been among the earliest and most determined to seek negotiations, Bessent said, with talks beginning with Vietnam on Wednesday to be followed by talks with Japan, South Korea and India.
The trade talks may also address other matters, including potential collaboration with the US on investing in a potential liquid natural gas (LNG) project in Alaska that could supply gas to South Korea, Japan and Taiwan.
The US’ Section 232 tariffs on steel and aluminium, as well as automotive tariffs, are not part of the trade talks, Bessent said.
“That’s going to remain,” he said.
