U.S. President Donald Trump authorized a 90-day pause and a substantially lowered reciprocal tariff during this period, of 10%, effective immediately. Moldova is among the more than 75 countries concerned, IPN reports, with reference to a post published on social media.

He also announced a raised tariff for China. “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%, effective immediately.,” said Trump

European Commission President Ursula von der Leyen welcomed Trump's decision to pause tariffs against particular nations, noting that the tariffs are taxes that hurt businesses and consumers.

“It’s an important step towards stabilizing the global economy. The European Union remains committed to constructive negotiations with the United States with the aim of achieving mutually beneficial and divergent trade," said von der Leyen.

Photo source: The Associated Press