The U.S. has paused most country-specific tariffs for 90 days while increasing duties on Chinese imports to 125%, as announced by President Trump. Most countries will still face a 10% baseline tariff, with sector-specific tariffs on goods like steel and aluminum remaining in place. This decision comes as over 75 countries, including Japan and Vietnam, seek trade negotiations with the U.S. Meanwhile, the ongoing trade war with China escalates, leading to reciprocal tariffs that could significantly impact global trade and reduce the global GDP by nearly 7%, according to the WTO.

Source: https://www.supplychaindive.com/news/trump-tariffs-china-increase-125-percent/744910/