Trump announced that he authorized a 90 day pause on the lofty tariffs and a “substantially lowered reciprocal tariff during this period, of 10%, also effective immediately” in a post on Truth Social Wednesday afternoon, ending days of speculation around whether or not the tariffs would actually go into effect or were negotiable.

The Trump administration took that formula’s figure, -0.5 for South Korea, and divided it by two to calculate the U.S. “discounted reciprocal” tariff rate. So, while South Korea imposes an effective tariff rate of .79 percent on U.S. goods, the reciprocal tariff rate the U.S. is imposing on South Korea is 25 percent.

A lawyer from President Donald Trump’s administration struggled to answer questions about Kilmar Abrego Garcia, who was mistakenly deported last month.

China raises tariff on U.S. goods to 125% after Trump White House says China tariffs are set at 145%. Follow along for live updates on the Dow, S&P 500 and Nasdaq.

Beijing increased its tariffs on U.S. imports to 125% on Friday, hitting back against U.S. President Donald Trump's decision to hike duties on Chinese goods and raising the stakes in a trade war that threatens to up-end global supply chains.

China announced countermeasures on Friday, raising tariffs on U.S. goods from 84% to 125% starting Saturday. The U.S. and China have escalated trade war by raising tariffs even as U.S. President Donald Trump hit a pause on tariffs for other countries.

China announced Friday that it will raise tariffs on U.S. goods from 84% to 125% — the latest salvo in an escalating trade war between the world’s two largest economies that has rattled markets

China’s finance ministry raised its tariffs on the U.S., to 125%, from 84%, as the tit-for-tat continues. The China tariffs are effective on April 12. Steven Goldstein is based in London and responsible for MarketWatch's coverage of financial markets in Europe,