He paused some tariffs — and then escalated a trade war with China.
This story appeared in The Logoff, a daily newsletter that helps you stay informed about the Trump administration without letting political news take over your life. Subscribe here.
Welcome to The Logoff: Today I’m breaking down President Donald Trump’s wild afternoon of trade moves.
What is going on with tariffs? Last week, Trump announced two sets of tariffs: a minimum 10 percent tax on imports from all countries, and then a separate set of higher tariff rates that varied by country. Today, Trump said he was pausing those new country-by-country tariffs for 90 days, but he’s keeping the baseline 10 percent tariff rate in place.
Trump also says he’s raising tariffs on Chinese imports to 125 percent as retaliation in an escalating trade war.
