Trump Announces 90-Day Pause On Most Tariffs: CT Leaders React

CONNECTICUT ? President Donald Trump on Wednesday abruptly backed down on his tariffs on most nations, announcing a 90-day pause for all trading partners except for China, for which he raised the rate to 125 percent.

Treasury Secretary Scott Bessent told reporters that Trump was pausing his so-called ?reciprocal? tariffs on most of the country?s biggest trading partners, but maintaining his 10 percent tariff on nearly all global imports.

Global markets surged on the development, but the precise details of Trump's plans to ease tariffs on non-China trade partners were not immediately clear. It was seemingly an attempt to narrow what had been an unprecedented trade war between the U.S. and most of the world to one between the U.S. and China.

Trump's tariffs kicked in shortly after midnight, including 104 percent on products from China, 20 percent on the European Union, 24 percent on Japan and 25 percent on South Korea. Administration officials have tried to reassure voters, Republican lawmakers and CEOs that the rates are negotiable, but by their own admission that process could take months.

?THIS IS A GREAT TIME TO BUY!!!? Trump posted Wednesday on Truth Social, his social media site. ?BE COOL! Everything is going to work out well. The USA will be bigger and better than ever before!?

Both of Connecticut's U.S. senators were not fans of the tariffs. On X, Sen. Chris Murphy called them "a political weapon designed to collapse our democracy." Sen. Richard Blumenthal said ?The president?s tariffs threaten recession, but very immediately they are attacks, they?ll raise prices on everything from electricity to gas to groceries."

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Trump announced the sweeping new tariffs last week, prompting financial turmoil, with business executives warning of a potential recession and big declines in the stock market.

Bessent has previously said it could take months to strike deals with countries on tariff rates, and the administration has not been clear on whether the baseline 10 percent tariffs imposed on most countries will stay in place. But in an appearance on ?Mornings with Maria,? Bessent said the economy would ?be back to firing on all cylinders? at a point in the ?not too distant future.?

He said there has been an "overwhelming" response by ?the countries who want to come and sit at the table rather than escalate.? Bessent mentioned Japan, South Korea, and India. "I will note that they are all around China. We have Vietnam coming today,? he said.

Even as the administration has tried to calm the world, new risks are forming.

China imposed 84 percent tariffs on goods from the United States. Canada now has auto tariffs to match the 25 percent being charged by Washington. The EU approved new taxes on U.S. goods after the 25 percent steel and aluminum tariffs from Trump.

Trump is already calling for more tariffs, looking at copper, lumber and computer chips. In a Tuesday night speech, he said taxes on imported drugs would happen soon.

The Associated Press contributed reporting. This is a developing story and will be updated.