That 125% tariff rate refers to this most recent round of tariffs rather than the tariff rate on Chinese goods overall, the White House confirmed Thursday, meaning that number does not include other tariffs that have previously been levied on China—most notably a 20% tariff that Trump levied because of China’s role in the fentanyl crisis.

White House officials clarified on Thursday that the 125 percent tariff the president announced on Wednesday was in addition to a 20 percent added to the country since President Trump returned to office.

White House Press Secretary Karoline Leavitt is warning countries who retaliate against President Trump's tariffs that he "has a spine of steel and he will not break."

In a stunning reversal, U.S. President Donald Trump said he would temporarily lower the hefty duties he had just imposed on dozens of countries while further ramping up pressure on China, sending global stocks rocketing higher.

Canadian Prime Minister Mark Carney said Wednesday that negotiations with President Trump on the U.S.-Canada economic and security relationships will start after the Canadian federal election. “The pause on reciprocal tariffs announced by President Trump is a welcome reprieve for the global economy,

The US and China tariffs keep escalating. The US will impose a cumulative 104 percent tariff on goods imported from China after midnight tonight alongside a host of tariffs on other countries, the White House confirmed to CNBC.

President Donald Trump said Wednesday he was open to providing exemptions for certain U.S. companies hit especially hard by tariffs through no fault of their own. The president and Treasury Secretary Scott Bessent spoke to reporters Wednesday afternoon and were asked repeatedly about the effect their tariff moves have had on financial markets and whether they will let their recent declines affect future trade decisions.

President Donald Trump said Wednesday he will pause reciprocal tariffs for 90 days to more than 75 U.S. trading partners except for China, whose tariff rate he said will increase to 125%, effective immediately.

U.S. trade representative Jamieson Greer went before the House Ways and Means Committee Wednesday to testify about President Trump's tariffs. During the hearing, Mr. Trump announced he was putting a 90-day pause on reciprocal tariffs against most countries but raising tariffs on China to 125%.

Trump said he decided to pause tariffs because people "were getting yippy" and "a little bit afraid" amid days of market turmoil.

President Donald Trump’s 90-day pause on trade tariffs for everyone but China instantly revived the American economic exceptionalism narrative. The headlines will shift to U.S. tax cuts — and the promise,

Donald Trump drew fresh mockery online Tuesday for his latest spin on the ongoing fallout from his tariffs, which have sparked concerns of a global recession and been questioned by even some of his staunchest supporters.

The tariff fight between the world's two largest economies spiraled into greater peril Wednesday as President Donald Trump tried to narrow his global trade war into a direct — and risky — faceoff with Beijing.

US President Donald Trump's political allies reacted with relief after Wednesday's U-turn on tariffs, insisting it was part of a wider plan. Trump backed down from imposing worldwide higher-rate tariffs,

America and the world just learned the scariest lesson about Donald Trump’s second term after a week of his capricious tariff war leadership. The fate of the US economy, the jobs and retirement savings of millions of people,

U.S. President Donald Trump's sudden about-face on sweeping import tariffs did little to soothe companies' worries about the fallout from his trade war and its chaotic implementation: soaring costs, falling orders and snarled supply chains.

Even by the standards of Trump’s second term, the saga that had played out over the past week left the world struggling to catch its breath.

Facing a global market meltdown, President Donald Trump on Wednesday abruptly backed down on his tariffs on most nations for 90 days, but raised the tax rate on Chinese imports to 125%. It was seemingly an attempt to narrow what had been an unprecedented trade war between the U.