Trump announces 90-day pause on tariffs

FILE PHOTO: U.S. President Trump delivers remarks on tariffs, at the White House

WASHINGTON (Reuters) – U.S. President Donald Trump said on Wednesday he authorized a 90-day pause as part of his tariff plan but was also raising the tariff rate for China to 125%, effective immediately.

(Reporting by Susan Heavey and Ryan Patrick Jones; Writing by Ismail Shakil; Editing by Doina Chiacu and Chris Reese)