Trump announces 90-day pause on "reciprocal" tariffs

President Trump on Wednesday announced a 90-day pause on most of his new tariffs, and a lowering of the "reciprocal tariff" rate to 10%, effective immediately, he said on Truth Social. 

At the same time, the president said he's increasing the tariff rate on goods imported from China to 125%.

"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," he wrote.