Trump pauses higher tariffs for 90 days but China trade war escalates

President Donald Trump has announced a 90-day pause for countries hit by higher US tariffs, but a trade war with China escalated.
In a dramatic change of policy, just hours after levies against roughly 60 of America’s trading partners kicked in, Trump said he was authorising a universal “lowered reciprocal tariff of 10%” as negotiations continue.
At the same time he increased tariffs on goods from China to 125%, accusing Beijing of a “lack of respect” after it had retaliated by saying it would impose tariffs of 84% on US imports.
This comes a week after Trump announced import taxes on all goods entering the US, in the biggest upheaval of international trade in decades.
His plan set a baseline tariff of 10% on all imports – which remains in place – but also higher rates on partners the White House described as the “worst offenders” for what the president considers to be unfair trade practices.

Source: BBC