"President Trump Wants to Be Directly Involved in Negotiations"
Scott Vestent, the U.S. Secretary of the Treasury, stated on the 9th (local time) that the 90-day suspension of reciprocal tariffs by country is intended to buy time for tariff negotiations with each country.
Secretary Vestent said at the White House on the same day, right after President Donald Trump announced the suspension of reciprocal tariffs by country, "There have been many requests, and more than 75 countries have contacted us."
He explained, "The solutions for each country will be customized and will take time," adding, "President Trump wants to be directly involved in the negotiations, so he granted a 90-day suspension."
When asked if the suspension was due to stock market crashes caused by tariff uncertainties, he flatly denied it, saying, "That is not the case."
President Trump announced on the same day that the implementation of reciprocal tariffs by country, except for China, will be suspended for 90 days. Since the 5th, the U.S. has applied a universal 10% tariff to all countries, and from that day, reciprocal tariffs by country were implemented considering each country's trade barriers. With this measure, the U.S. applies only a 10% universal tariff to its trading partners. However, the tariff rate on China, which retaliated with counter-tariffs against the U.S.'s reciprocal tariff measures, was immediately raised to a total of 125%.
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