US President Donald Trump has announced a 90-day pause on tariffs for countries that have not retaliated against his tariff plan. According to reports from the news agency AGI, China is excluded from this suspension, having previously announced an increase in tariffs on US goods imported into the country.
10% tariffs during the interim period
With the announcement of the 90-day pause, Trump explained that tariffs will be set at a flat rate of 10% for all countries, with the sole exception of China.
“Given China’s lack of respect for global markets, I hereby increase the tariff imposed by the United States of America on China to 125%, effective immediately,” Trump wrote on the social media platform Truth. He went on to say that more than 75 countries had requested to negotiate tariffs, and that he had “authorised a PAUSE (capitalised in the original text, ed.) of 90 days and a substantially reduced reciprocal tariff during this period, set at 10%, also effective immediately.”
Now to work on zero-for-zero policies on wine
The news, which comes just hours before the close of a Vinitaly dominated by concerns over additional tariffs, brings a sigh of relief to the agri-food sector.
“This deferral lays solid groundwork for negotiations: it’s a positive outcome, in line with what was hoped for during yesterday’s meeting at Palazzo Chigi, namely to maintain strong negotiations with our American partners,” commented UIV president Lamberto Frescobaldi. “Now it will be important to work on zero-for-zero policies for wine as well, and to restore a trade alliance that is crucial for both sides.”
Diplomatic efforts
The announcement confirms that the pressure exerted by the wine associations on the Italian Government and the European Union to pursue diplomatic channels was the right course of action. In recent days, during a video link with the Verona trade fair, Foreign Minister Antonio Tajani had indeed stated that it was very likely American whiskey would not be included in any potential European countermeasures, precisely to avoid an escalation with the United States.
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