Trump announced that he authorized a 90 day pause on the lofty tariffs and a “substantially lowered reciprocal tariff during this period, of 10%, also effective immediately” in a post on Truth Social Wednesday afternoon, ending days of speculation around whether or not the tariffs would actually go into effect or were negotiable.

U.S. President Donald Trump is set to meet with representatives from major retailers on Monday afternoon to discuss the effects of broad-based tariffs on their businesses, a White House official said.

It won't be zero. It used to be zero." Trump's comments came after Bessent told investors in a closed-door summit Tuesday that he sees

President Donald Trump on Tuesday conceded that the 154 percent tax Americans currently pay for most imported goods from China will come down as a result of trade talks between Washington and Beijing.

President Donald Trump instituted a 90-day pause on some of the “Liberation Day” tariffs he announced April 2, causing chaos in U.S. and global financial markets, but he left in place a universal 10 percent duty on imports and raised tariffs on American imports of most Chinese goods to 145 percent.