Trump tax changes : 5 key new updates
US President Donald Trump has just announced two major changes to his tariffs plan – let’s get you up to speed:
Trump has increased tariffs on Chinese imported goods to 125% “effective immediately”
He also announced a 90-day pause on the implementation of higher tariffs
The pause means a “universal 10%” tariff will be in place for all countries, other than China, White House Press Secretary Karoline Leavitt says
Markets soared following the announcement of the 90-day pause – Nasdaq index hit 9% and the S&P 500 reached 8%
Treasury Secretary Scott Bessent confirms Canada and Mexico – which faced rates of up to 25% on some goods – are also included in the 10% baseline tariffs. He didn’t clarify whether this also includes the EU
2025-04-10
