US President Donald Trump has announced a complete halt to all ‘reciprocal’ tariffs from midnight, with the exception of those imposed on China.

In a major escalation, Trump also declared that tariffs on Chinese imports would rise from 104 per cent to 125 per cent with immediate effect.

The decision followed China’s announcement of fresh retaliatory tariffs on US goods, scheduled to take effect on Thursday.

‘Due to the lack of respect 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,’ Trump wrote on his social media platform, Truth Social.

‘At some point, hopefully in the near future, China will realise that the days of ripping off the USA, and other countries, is no longer sustainable or acceptable.’

In the same post, Trump confirmed a 90-day pause on the reciprocal tariffs, accompanied by a reduced flat rate of 10 per cent on affected countries.

‘I have authorised a 90-day pause and a substantially lowered Reciprocal Tariff during this period, of 10 per cent, also effective immediately,’ he said.

Meanwhile, in Dhaka, Bangladesh’s interim government has welcomed the announcement.

Chief Adviser Professor Muhammad Yunus expressed his gratitude to President Trump for granting a temporary reprieve.

‘Thank you, Mr President (@POTUS), for responding positively to our request for a 90-day pause on tariffs,’ said Chief Adviser Yunus, as quoted by his press secretary Shafiqul Alam.

‘We will continue to work with your administration in support of your trade agenda.’

According to the international media reports, the US Treasury Secretary, Scott Bessent, praised the President’s move, saying it demonstrated Trump’s resolve and strategic patience.

‘President Trump has shown great courage to stay the course until this moment,’ Bessent said on Wednesday.

‘Do not retaliate and you will be rewarded,’ he added, noting that the US remains open to negotiations with any country willing to engage in talks.

Commerce Secretary Howard Lutnick confirmed on X (formerly Twitter) that he and Bessent had been with the President as he composed his post.

‘Scott Bessent and I sat with the President while he wrote one of the most extraordinary Truth posts of his presidency,’ Lutnick wrote. ‘The world is ready to work with President Trump to fix global trade, and China has chosen the opposite direction.’

The news sparked a surge in US financial markets. Investors had been bracing for broader tariff hikes outlined by the President in recent days.

However, the White House clarified that the 10 per cent universal tariff on all trading partners—excluding Canada and Mexico—remains in effect.

Countries previously facing reciprocal tariffs will now be subject to the lower flat rate for the next 90 days, Bessent confirmed.