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U.S. President Donald Trump announced on Wednesday, April 9, that he has approved a 90-day suspension for the implementation of U.S. tariffs.

Trump stated that the suspension applies to both the retaliatory and general tariffs, which currently stand at 10%, noting that the suspension takes effect immediately.

He further announced that he has decided to raise tariffs on imports from China to 125%, with the increase also taking effect immediately. (Source: CNBC)