Bessent and Lutnick were with Trump as he wrote message announcing pause on tariffs
President Donald Trump was joined by his top economic advisers — Treasury Secretary Scott Bessent and Commerce Secretary Howard Lutnick — to write his message announcing he was backing off his tariffs for 90 days.
“Scott Bessent and I sat with the President while he wrote one of the most extraordinary Truth posts of his Presidency. The world is ready to work with President Trump to fix global trade, and China has chosen the opposite direction,” Lutnick wrote on social media.
President Donald Trump said he is applying a 90-day pause on new tariffs as his trade war shakes the world economy.
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At the same time, he announced he was raising tariff rates on China to 125%, ratcheting up his tit-for-tat with Beijing.
Trump said he has “authorized a 90 day PAUSE, and a substantially lowered Reciprocal Tariff during this period, of 10%, also effective immediately.”
It was not immediately clear which countries the pause will apply to. CNN is reaching out to the White House for further clarification.
In the same message, Trump said he was raising US tariffs on China as he works to bring Beijing to the negotiating table.
“Based on the lack of respect that China has shown to the World’s Markets, I am hereby raising the Tariff charged to China by the United States of America to 125%, effective immediately. At some point, hopefully in the near future, China will realize that the days of ripping off the U.S.A., and other Countries, is no longer sustainable or acceptable,” he wrote.
