Trump suspends retaliatory tariffs for 90 days, excludes China

Washington: US President Donald Trump has announced a 90-day suspension on the implementation of the retaliatory tax imposed on most countries, including India. However, Trump clarified that China will not be granted this temporary relief and that tariffs on Chinese imports will be increased.

The announcement triggered a surge in global markets.

On April 2, Trump had imposed retaliatory tariffs on nearly 60 countries, including India, in what he described as a historic move to counter high taxes levied on American products.

“This is liberation day, which has been long overdue. April 2, 2025, will forever be remembered as the day American industry reborn, the day parts of America reopened, the day we began the work of making America prosperous again,” Trump said while announcing the decision.

During the announcement, Trump also presented a chart comparing retaliatory taxes with tariffs imposed by countries such as India, China, the UK, and the European Union.