President Donald Trump has put a three-month hold on most of his recently announced reciprocal tariffs, lowering the rate to 10% for nearly all countries.
At the same time, he has hiked the taxes on goods imported from China to 125%, according to a post he published Wednesday on Truth Social.
“Based on the lack of respect that China has shown to the world’s markets, I am hereby raising the tariff charged to China by the US to 125%, effective immediately,” Trump wrote. “At some point, hopefully in the near future, China will realize that the days of ripping off the US and other countries is no longer sustainable or acceptable.”
However, the president noted his decision to lower duties on other countries was in response to their desire to work with the US.
“Conversely, and based on the fact that more than 75 countries have called representatives of the US, including the Departments of Commerce, Treasury, and the office of the US Trade Representative (USTR), to negotiate a solution to the subjects being discussed relative to trade, trade barriers, tariffs, currency manipulation and nonmonetary tariffs, and that these countries have not, at my strong suggestion, retaliated in any way, shape, or form against the US, I have authorized a 90-day pause and a substantially lowered reciprocal tariff during this period of 10%, also effective immediately.”
Despite the reprieve, Signet Jewelers has sent a new letter to suppliers Wednesday reiterating that it was still not accepting any tariff obligations for current purchase orders as it “continues to prepare for possible scenarios.” However, the company will grant two-week extensions on all open purchase orders that have not yet arrived in the US and has asked vendors to hold the shipments for that period while Signet evaluates the implications of the new tariffs.
“If you are willing to accept the impact of the tariffs within this two-week period, then please continue shipping,” the jeweler added.
BRON: Rapaport 10-4-2025
