US President Donald Trump on Wednesday announced he is ordering a 90-day pause on so-called reciprocal tariffs on all countries except China.
The announcement comes after business executives warned of a potential recession caused by the Trump administration's policies, and some of the top US trading partners retaliated by imposing import taxes.
"I have authorised a 90-day pause, and a substantially lowered reciprocal tariff during this period, of 10 per cent, also effective immediately," Mr Trump wrote on social media.
Treasury Secretary Scott Bessent clarified that Mr Trump is maintaining the 10 per cent tariff on nearly all global imports.
“The market didn’t understand, those were maximum levels. The countries can think about those levels as they come to us to bring down their tariffs, their non-trade barriers,” Mr Bessent told reporters at the White House.
The 10 per cent tariff was the baseline rate for most nations that went into effect on Saturday. It is significantly lower than the 20 per cent tariff that Mr Trump had set for goods from the EU, 24 per cent on imports from Japan and 25 per cent on products from South Korea. But the 10 per cent represents an increase in the tariffs previously charged by the US government.
Markets began to rally on Wednesday afternoon following the announcement, as investors' fears about the spillover effects of a wider trade war were temporarily relieved. It comes after the biggest two-day wipeout in the history of US stocks last week, with a combined $6.6 trillion in value erased on Thursday and Friday.
The President said he is raising the tariffs charged to China to 125 per cent in an apparent attempt to reduce what had been an unprecedented trade war between the US and most of the world to one between Washington and Beijing.
"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 United States of America to 125 per cent, effective immediately," he said.
Mr Trump had previously issued a 104 per cent levy on Chinese goods, with China responding with its own 84 per cent levy.
The details of Mr Trump's plans to ease tariffs on non-China trading partners have yet to be established.
The President said at an event later on Wednesday: "I did a 90-day pause for the people that didn't retaliate because they told them if you retaliate, we're going to double it, and that's what I did with China, because they did retaliate, so we'll see how it all works out. I think it's going to work out amazing."
White House press secretary Karoline Leavitt said the walk-back was part of a larger negotiating strategy.
“President Trump created maximum negotiating leverage for himself,” she said, adding that the news media "clearly failed to see what President Trump is doing here".
"You tried to say that the rest of the world would be moved closer to China, when in fact, we’ve seen the opposite effect. The entire world is calling the United States of America, not China, because they need our markets.”
Match info
Manchester United 1
Fred (18')
Wolves 1
Moutinho (53')
UAE squad
Esha Oza (captain), Al Maseera Jahangir, Emily Thomas, Heena Hotchandani, Indhuja Nandakumar, Katie Thompson, Lavanya Keny, Mehak Thakur, Michelle Botha, Rinitha Rajith, Samaira Dharnidharka, Siya Gokhale, Sashikala Silva, Suraksha Kotte, Theertha Satish (wicketkeeper) Udeni Kuruppuarachchige, Vaishnave Mahesh.
UAE tour of Zimbabwe
All matches in Bulawayo
Friday, Sept 26 – First ODI
Sunday, Sept 28 – Second ODI
Tuesday, Sept 30 – Third ODI
Thursday, Oct 2 – Fourth ODI
Sunday, Oct 5 – First T20I
Monday, Oct 6 – Second T20I
All Black 39-12 British & Irish Lions
The Vile
Starring: Bdoor Mohammad, Jasem Alkharraz, Iman Tarik, Sarah Taibah
Director: Majid Al Ansari
Rating: 4/5
What is Reform?
Reform is a right-wing, populist party led by Nigel Farage, a former MEP who won a seat in the House of Commons last year at his eighth attempt and a prominent figure in the campaign for the UK to leave the European Union.
It was founded in 2018 and originally called the Brexit Party.
Many of its members previously belonged to UKIP or the mainstream Conservatives.
After Brexit took place, the party focused on the reformation of British democracy.
Former Tory deputy chairman Lee Anderson became its first MP after defecting in March 2024.
The party gained support from Elon Musk, and had hoped the tech billionaire would make a £100m donation. However, Mr Musk changed his mind and called for Mr Farage to step down as leader in a row involving the US tycoon's support for far-right figurehead Tommy Robinson who is in prison for contempt of court.
Juventus v Napoli, Sunday, 10.45pm (UAE)
Match on Bein Sports
Our legal columnist
Name: Yousef Al Bahar
Advocate at Al Bahar & Associate Advocates and Legal Consultants, established in 1994
Education: Mr Al Bahar was born in 1979 and graduated in 2008 from the Judicial Institute. He took after his father, who was one of the first Emirati lawyers
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Biog
Mr Kandhari is legally authorised to conduct marriages in the gurdwara
He has officiated weddings of Sikhs and people of different faiths from Malaysia, Sri Lanka, Russia, the US and Canada
Father of two sons, grandfather of six
Plays golf once a week
Enjoys trying new holiday destinations with his wife and family
Walks for an hour every morning
Completed a Bachelor of Commerce degree in Loyola College, Chennai, India
2019 is a milestone because he completes 50 years in business
Series information
Pakistan v Dubai
First Test, Dubai International Stadium
Sun Oct 6 to Thu Oct 11
Second Test, Zayed Stadium, Abu Dhabi
Tue Oct 16 to Sat Oct 20
Play starts at 10am each day
Teams
Pakistan
1 Mohammed Hafeez, 2 Imam-ul-Haq, 3 Azhar Ali, 4 Asad Shafiq, 5 Haris Sohail, 6 Babar Azam, 7 Sarfraz Ahmed, 8 Bilal Asif, 9 Yasir Shah, 10, Mohammed Abbas, 11 Wahab Riaz or Mir Hamza
Australia
1 Usman Khawaja, 2 Aaron Finch, 3 Shaun Marsh, 4 Mitchell Marsh, 5 Travis Head, 6 Marnus Labuschagne, 7 Tim Paine, 8 Mitchell Starc, 9 Peter Siddle, 10 Nathan Lyon, 11 Jon Holland
Studying addiction
This month, Dubai Medical College launched the Middle East’s first master's programme in addiction science.
Together with the Erada Centre for Treatment and Rehabilitation, the college offers a two-year master’s course as well as a one-year diploma in the same subject.
The move was announced earlier this year and is part of a new drive to combat drug abuse and increase the region’s capacity for treating drug addiction.
Electric scooters: some rules to remember
- Riders must be 14-years-old or over
- Wear a protective helmet
- Park the electric scooter in designated parking lots (if any)
- Do not leave electric scooter in locations that obstruct traffic or pedestrians
- Solo riders only, no passengers allowed
- Do not drive outside designated lanes
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