Dow falls over 1200 points as selloff resumes; White House says levies against China now 145%

Amid global uncertainty and pushback, US President Donald Trump has announced a 90-day tariff pause on India and other countries. Trump announced a 90-day pause on what the administration termed “reciprocal” tariffs on imports from almost 60 countries and the European Union. While this gives room for negotiations to most of the nations, China has been categorically excluded from this pause. Instead, Trump’s tariff hike of 125% on Chinese imports into US have come into effect. The White House later clarified that this was in addition to an earlier fentanyl-related levy — bringing the total tariff to 145% against China. Simultaneously China’s 84% tariffs on US are also in effect.