President Donald Trump announced a 90-day pause on certain new tariffs while also stating intentions to further increase tariffs on imports from China. This shift follows the recent implementation of new US tariffs on imports from numerous countries, impacting markets and raising recession concerns.

Trump stated he would raise tariffs on Chinese imports to 125 percent from 104 percent, citing China’s “lack of respect” for global markets as the reason. This follows China’s prior announcement of 84 percent tariffs on imports from the US. Despite the tariff increase, Trump approved a 90-day pause and a reciprocal 10 percent tariff reduction during that period, with the pause and increased tariffs taking immediate effect.

Trump expressed his willingness to meet with Chinese President Xi Jinping, referring to him as a friend and stating his belief that they would ultimately reach a “very good deal”. He defended the administration’s prior stance, stating that negotiations are fluid.

He also mentioned unspecified US military capabilities and reiterated his praise for Xi Jinping, calling him “one of the smartest people in the world” and someone who “knows exactly what needs to be done.”