Donald Trump pauses higher tariffs for most countries but increases levies on China

United States President Donald Trump on Wednesday reduced the tariffs rate on imports from most countries to 10% for 90 days to provide time for trade negotiations. The pause came hours after the so-called reciprocal tariffs imposed by the US on several countries took effect amid concerns of a broader trade war that could disrupt the global economy and trigger recession. However, the US president said that he was increasing the tariffs imposed on imports from China to 125% with immediate effect, citing the "lack of respect" Beijing had shown to the global markets. "At some point, hopefully in the…